Anime-focused streaming service Crunchyroll completed the acquisition of a majority stake in VIZ Media Europe SARL, a France-based anime distributor.
The transaction's financial details were not revealed.
In line with the deal, the companies named John Easum head of Crunchyroll's Europe, Middle East and Africa business. Easum will take charge of Crunchyroll's content deals and global expansion efforts, among other tasks.
Shogakukan and Shueisha Group will retain minority ownership of VIZ Media Europe. The group will also keep its full ownership of VIZ Media Europe's publishing licensing business, which will be transferred to a newly created entity, VME PLB SAS. The latter will continue licensing manga across the EMEA and Latin American regions.
Kazuyoshi Takeuchi will step down as president of VIZ Media Europe and will become adviser to the company.
Crunchyroll is owned by AT&T Inc.'s Otter Media Holdings LLC.