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How will Sony's share price react within a week of Kadokawa acquisition announcement?
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Kadokawa Corporation•Japanese•Elden Ring•Dark Souls•Reuters•Sony•Kadokawa•Spike Chunsoft•Tokyo•FromSoftware
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Story
Sony in Talks to Acquire Kadokawa, Media Giant Behind 'Elden Ring' and Anime IPs
Nov 19, 2024, 07:32 AM
Sony Group Corp. is reportedly in talks to acquire Kadokawa Corporation, the Japanese media conglomerate that owns FromSoftware Inc., the developer behind the acclaimed video games "Elden Ring" and "Dark Souls." The acquisition, first reported exclusively by Reuters, would bolster Sony's entertainment portfolio and enhance its position in the gaming industry. Kadokawa is also a significant publisher of anime and other media content and owns other assets such as Spike Chunsoft. Both Sony and Kadokawa declined to comment on the reports, with Kadokawa stating that "nothing has been decided at this moment." Kadokawa's stock closed up 23% on Tuesday in Tokyo, reaching the daily limit-high, while Sony's shares rose by 0.63%. Sony and Tencent Holdings Ltd. already own minority stakes in FromSoftware.
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