In May 2017, it was reported that Universal Studios and Sony Pictures Television were interested in purchasing Funimation; however, Universal decided not to proceed with the bidding. On July 31, 2017, Sony Pictures Television announced that it would buy a controlling 95% stake in Funimation for $143 million, a deal that was approved by the United States Department of Justice on August 22, 2017. This deal allowed Funimation to have synergies with Sony's Animax and Kids Station divisions and "direct access to the creative pipeline". The deal was closed on October 27, 2017.