Sony Just Made A Big Move With Elden Ring Parent Company But It's Not The Rumored Buyout

Sony Group has agreed to buy more than 12 million more shares in Elden Ring parent company Kadokawa Corporation, with Sony becoming Kadokawas's largest shareholder. Sony will own 10% of Kadokawa's shares after buying 12,054,100 new shares for about 50 billion yen ($319 million USD).

Sony Group said it plans to buy the shares on January 7, 2025. It follows on from Sony's previous acquisition of Kadokawa shares in February 2021.

Sony and Kadokawa have worked together on a number of projects throughout the years, and rumors swirled recently that Sony might have been plotting to buy the company outright. That isn't happening, though, at least not at this stage.

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