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NEW YORK/TOKYO, Nov 19 (Reuters) – Sony (6758.T) is in talks to acquire Kadokawa (9468.T) the Japanese media powerhouse behind the “Elden Ring” game, two sources familiar 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 could be signed in the coming weeks, the sources said.
Kadokawa’s shares closed up 23% at their daily limit. Its market capitalisation was around $2.7 billion prior to the Reuters report. Sony’s shares closed up 0.6%.
Sony declined to comment. Kadokawa said it cannot comment.
Sony already has a 2% stake in Kadokawa and a stake in Kadokawa controlled FromSoftware, the developer of the hit fantasy action role-playing game.
The critically acclaimed title is a collaboration between veteran game director Hidetaka Miyazaki and “Game of Thrones” author George R.R. Martin.
The game, which depicts an atmospheric world where players battle monsters and quest to repair the Elden Ring, has sold 25 million units and been widely praised.
