National News Livedoor thwarts Fuji TV

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Internet firm Livedoor Co. raised its stake in Nippon Broadcasting System Inc. to 35 percent Feb. 8, challenging a ¥170 billion takeover bid for the radio company in an attempt to integrate broadcasting and Internet services.

The news came as a surprise to Fuji Television Network Inc., which is attempting to acquire all outstanding shares in the radio company by Feb. 21 to make the broadcaster a subsidiary

Livedoor's ¥70 billion purchase could foil Fuji TV's takeover bid in the face of a resultant steep rise in the price of Nippon Broadcasting stock. The AM radio broadcaster's stock shot up ¥810 to ¥6,800 on Feb. 8.

The 35 percent stake - 29.6 percent of which was purchased Feb. 8 - also gives Livedoor substantial clout in Nippon Broadcasting's management. A stake of 33.4 percent or higher allows companies to wield veto power at shareholders' meetings.

Livedoor President Takafumi Horie, 32, said he wants a business alliance with Fujisankei Communications Group, the nation's largest media business, which includes both Fuji TV and Nippon Broadcasting.

But Fuji TV has rejected the proposal, saying it will counter the Internet service provider's acquisition of a major stake in Nippon Broadcasting.

"If they want a tie-up, they should negotiate first," Fuji TV Chairman Hisashi Hieda told reporters at a news conference in Tokyo on Feb. 9. (Kyodo)

ライブドア、ニッポン放送株取得

インターネット関連会社のライブドアは8日、ラジオ局のニッポン放送の株35パーセントを取得し、フジ・サンケイグループに業務提携を申し入れる方針を明らかにした。

Shukan ST: Feb. 18, 2005

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