Sony is indeed looking to acquire the Japanese media conglomerate Kadokawa, which owns the studio FromSoftware. In a message to investors, Kadokawa revealed that it has received a letter from Sony suggesting a deal.
Elden Ring
Kadokawa emphasized that it has not made a decision yet. The company promised to make an announcement "if there are any facts that need to be disclosed."
The company did not share any other details about the negotiations with Sony.
Earlier, sources from Reuters reported that if successful, the deal between Kadokawa and Sony could be concluded in the coming weeks.
News of the negotiations with Sony led to a sharp rise in Kadokawa's stock. In just a day and a half, their price increased by 43.4%, reaching 4,346 yen ($27.9) per share. If on the morning of November 19, Kadokawa's market value was around $2.7 billion, it has now risen to $3.96 billion.
Kadokawa's stock value from November 14 to 20