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Will Kadokawa's stock reach a new all-time high by December 31, 2024?
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Kadokawa Corporation•Japanese•Elden Ring•Sony•Kadokawa•FromSoftware•Dark Souls•Spike Chunsoft•Acquire•Tokyo•Tencent
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Sony in Talks to Acquire Kadokawa, Expanding Anime and Gaming Holdings
Nov 19, 2024, 09:10 AM
Sony Group Corp. is in talks to acquire Kadokawa Corporation, the Japanese media conglomerate behind the hit game 'Elden Ring', according to sources familiar with the matter. The acquisition would enhance Sony's entertainment portfolio by adding Kadokawa's extensive assets in gaming, anime, manga, and film. Kadokawa owns FromSoftware, developer of popular titles such as 'Elden Ring' and 'Dark Souls', as well as studios like Spike Chunsoft and Acquire. Both Sony and Kadokawa declined to comment on the potential deal, with Kadokawa stating that "nothing has been decided at this moment." In response to the news, Kadokawa's stock closed up 23% on Tuesday in Tokyo, reaching the daily limit-high. Sony and Tencent already own stakes in FromSoftware, and acquiring Kadokawa would further strengthen Sony's position in gaming and increase its control over anime and manga distribution. Kadokawa has a market capitalization of approximately $2.7 billion.
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