19 November 2024, 11:43 am 1 minute

Sony is in talks to acquire Kadokawa, the Japanese media powerhouse behind the “Elden Ring” game, Reuters exclusively reportedas the technology giant looks to add to its entertainment portfolio. Shares of Tokyo-listed Kadokawa, were flooded with buy orders after the report and finished the day up 23%, having risen by their daily limit.  The company later confirmed it had received an initial letter of intent for the acquisition – a full day after Reuters clients first had the news.

Why it matters

Known as the inventor of the Walkman, Sony has transformed from an electronics manufacturer into an entertainment and technology juggernaut spanning movies, music, games and chips.

Sony’s focus includes anime, whose growth worldwide has been fueled by the spread of streaming services and greater familiarity with Japanese culture.

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: Japan

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story