While Microsoft has become the main character of acquisitions in corporate culture with its $69 billion purchase of Activision Blizzard, a new report suggests Sony is gearing up for a big buyout that will propel it even further to the top of the totem pole of monopolizing the anime industry.

Kadokawa Corporation has acknowledged the Sony acquisition rumors, and says they did receive a letter of intent.

Kadokawa's shares closed up 16% in Tokyo on Wednesday, a day after Reuters reported Sony was in talks to acquire the publishing, anime and gaming powerhouse. Shares in Kadokawa, which controls "Elden Ring" developer FromSoftware,

Reports that FromSoftware parent company Kadokawa Group are in talk to be acquired by Sony has fans worried it will "ruin" the studio.

Kadokawa's shares jumped 19% in early Tokyo trading on Wednesday, a day after Reuters reported Sony was in talks to acquire the publishing, anime and gaming powerhouse. Shares in Kadokawa, which controls "Elden Ring" developer FromSoftware,

FromSoftware’s parent company Kadokawa has released a statement, confirming the acquisition report.The statement as you can see above confirms that Sony Group has indeed expressed their desire to acquire the company,