Sonyy is in talks to acquire kadokawa, the japanese media powerhouse behind the Elden Ring Game, two sources family with the matter said, as the technology giant looks to add to its entertainment portfolio.
The talks between the two sides are ongoing and if successful, a deal be signed in the coming weeks, the sources said.
Kadokawa’s Shares Closed up 23 percent at their daily limit. Its market capitalization was Around $ 2.7 Billion (Roughly Rs. 22,791 Crore) Prior to the Reuters Report.
Sonyy Declined to comment. Kadokawa said it cannot comment.
Sony alredy has a two percent stake in kadokawa and a stake in kadokawa subsidian for fromSoftware, the developer of the hit fantasy Role-Playing Game.
The critically acclaimed title is a collaboration between veteran game director Hidetaka Miyazaki and Game of Thrones Author george rr martin.
The game has sold 25 million units, with an expansion, Shadow of the erdtreeSelling five million units in the three days after release in June.
Kadokawa began as a publisher in 1945, but has expanded franchies such as re: zero into games, anime, events and figures.
Its other franchies include delicious in dungeon, a manga series adapted into anime about adventurers exploring dungeons and eating monsters they encounter.
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.
“Loveable characters and Intellectual Property (IP) Can Live for 30, 50 or 100 years,” Sony Ceo Kenichiro Yoshida Said Last Year.
“That’s something we want to make investment in for Sustainable Growth,” He said.
Sony’s focus includes anime, whose growth worldwide has been fuled by the spread of streaming services and greenr family with Japanese Culture.
The group has also hado had success in extending the reach of its own franchises, with the last of us games series adapted into a popular Hbo drama,
Sony, which has a market Valuation of Around $ 114 Billion (Roughly Rs. 9,62,332 Crore), in January scrapped the $ 10 billion (roughly Rs. 84,415 Crore) Enterprises say some conditions were not met.
Kadokawa’s business has been buffeted in recent years.
In June, it was hit by a cyberrattack that resulted in a data leak and affected business activities.
Two years ago, Tsuguhiko Kadokawa, The Son of the company’s founder, resigned as Chairman after he was indicated on Brybery Charges Related to the tokyo Olympics.
© Thomson Reuters 2024
(This story has not been edited by ndtv staff and is auto-generated from a syndicated feed.)
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