Sony (TYO:6758) has ruled out bidding for Warner Bros. Discovery, Nikkei Asia reported Monday, citing Chief Executive Officer Hiroki Totoki in a recent interview.
Totoki said that a large-scale Hollywood acquisition is not currently part of Sony's strategy, the publication reported.
Instead, the company plans to focus on strengthening its core businesses in anime and games, added the news daily.
This declaration comes as Warner Bros. Discovery undertakes a strategic review and has reportedly attracted interest from other potential buyers, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)