• Reuters, Bloomberg

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Sony Corp. will buy AT&T Inc.’s animation business Crunchyroll for $1.175 billion (about ¥120 billion), the two companies said Thursday, as the electronics conglomerate aims to strengthen its entertainment content and distribution businesses.

The deal will give Sony access to Crunchyroll’s 3 million paying subscribers across more than 200 countries and regions, helping Sony compete more globally with entertainment giants such as Netflix.

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