LogIn"But no decision has been made at this time."
FromSoftware
The report of Sony's attempt to buy Elden Ring and Dark Souls series developer FromSoftware's owner has been confirmed, as Kadokawa CEO Takeshi Natsuno has released a statement about the situation and current status.
"The Company (Kadokawa Corporation) has received an initial letter of intent to acquire the Company's shares, but no decision has been made at this time. If there are any facts that should be announced in the future, we will make an announcement in a timely and appropriate manner," it reads.
Besides owning nearly 70% of FromSoftware stakes, with Tencent and Sony owning the remaining 30%, this major Japanese media conglomerate's portfolio covers publishing, film and visuals, and cross-media. Its manga series Delicious in Dungeon has been well received and adapted into anime, which has been streamed worldwide with Netflix and boosted the sales of the manga to 14 million copies by March of this year.
Over the past two years, Sony has made several acquisitions, including the purchase of Bungie, the developer of Destiny, in 2022, and Firewalk Studios, which was developing an AAA title, in 2023. Unfortunately, Bungie faced massive layoffs last year, while Firewalk's project, Concord, got shut down two weeks after release despite being developed at a reportedly $50-200 million cost.
It's hard to predict if this deal will be reached at this moment as no additional information has been revealed by either party. Kadokawa's shares jumped 23% and have remained at a comparatively high price since then.
Don't forget to join our 80 Level Talent platform and our new Discord server, follow us on Instagram, Twitter, LinkedIn, Telegram, TikTok, and Threads, where we share breakdowns, the latest news, awesome artworks, and more.