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.

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.

Sony is allegedly planning to acquire Japanese media company Kadokawa. The company also owns FromSoftware studio, which developed the Elden Ring blockbuster, Armored Core, Bloodborne, and Dark Souls.