Game District Acquires Stake in Gleam Games

Mergers and Acquisitions

20 November 2024 21:10

Sony is in negotiations to acquire Kadokawa , the Japanese media conglomerate behind the popular game Elden Ring. The talks are ongoing, and if they move forward, a deal could be finalized in the coming weeks.

Kadokawa’s stock surged 23% to its daily limit following the news, bringing its market capitalization to approximately $2.7 billion before the Reuters report. In contrast, Sony’s shares rose 0.6%.

Sony currently holds a 2% stake in Kadokawa and also has an investment in FromSoftware, the developer behind Elden Ring. The game, which has received widespread acclaim, was created in collaboration between Dark Souls director Hidetaka Miyazaki and Game of Thrones author George R.R. Martin. Set in a vast, atmospheric world, players battle monsters and embark on quests to restore the Elden Ring.

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The title has sold 25 million copies and continues to be a massive success, with its recent expansion, Shadow of the Erdtree, selling 5 million copies within three days of its release in June. The game is available on platforms including Sony’s PlayStation.

Tags: Game District

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