Sony to Buy Additional Kadokawa Shares to Become Largest Shareholder in $319 Million Deal

MT Newswires Live12-19

Sony Group (SONY) said Thursday it has agreed to buy about 12.1 million new Kadokawa shares through a third-party allotment on Jan. 7.

The acquisition, valued at about 50 billion Japanese yen ($318.6 million), will make Sony Kadokawa's largest shareholder, holding about 10% of its shares.

Sony said it has also entered into a business alliance agreement with Kadokawa to leverage their intellectual property across various media formats, with a focus on the expansion of the global distribution of Kadokawa's anime through Sony and broadening its game publishing efforts.

Plans include joint investments in content, discovering new creators and adapting Kadokawa's IP for live-action films, TV dramas, and anime co-productions.

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