Sony Group Corp. is in discussions to acquire Japanese content publisher Kadokawa Corp., Reuters reported, citing two unidentified people familiar with the matter.

Sony (NYSE:SONY) is in discussions to acquire Japanese media firm Kadokawa, Reuters reported citing people with knowledge of the matter. The potential move would bolster the company's entertainment portfolio.

Kadokawa is a 79-year-old company that spans film, games, publishing and animation and is listed on the main Tokyo Stock Exchange. Its shares soared some 23% on Tuesday after the Reuters news agency published a report about the negotiations, quoting two ...