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https://www.bloomberg.com/news/newsletters/2024-11-26/sony-s-pursuit-of-kadokawa-anime-looks-like-a-great-takeover-idea

"They’ve been testing the waters for a potential combination for years, but never quite resolved differences over the degree of commitment. Tokyo-based Kadokawa wants its city neighbor to buy it entirely or not at all, while Sony has long sought to surgically extract assets related to anime and video games.

The fact the two are now at a formal stage of negotiation is very encouraging. Both sides might actually be ready to get serious and thrash out a deal."