By Sam Nussey TOKYO (Reuters) -Japanese media powerhouse Kadokawa said on Wednesday it had received a letter of intent to buy its shares, a day after a Reuters report that Sony was in talks to acquire the developer of the acclaimed "Elden Ring" fantasy game sent its stock soaring.

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.

In a pretty astonishing piece of news, it seems that Sony is in talks to buy Kadokawa. According to Reuters, Sony is thinking of buying Kadokawa, which would have massive ramifications for both games and anime.

Sony is bringing a big new feature to the PlayStation Portal: cloud streaming. When it first launched, the device was only able to stream games from your PS5 over Wi-Fi. But as part of a new system update that’s rolling out starting later today,