Fuji TV, Livedoor bury hatchet
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After a highly publicized battle for control of Nippon Broadcasting System (NBS), Livedoor and Fuji Television said April 18 they have reached an agreement that lets them lay down their arms.
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| (From left) Nippon Broadcasting System President Akinobu Kamebuchi, Livedoor President Takafumi Horie, Fuji TV Chairman Hisashi Hieda, and Fuji TV President Koichi Murakami |
Under the deal, Fuji TV will gain Livedoor's entire 50 percent stake in Nippon Broadcasting and eventually make the radio broadcaster a wholly owned subsidiary.
Fuji TV will purchase for around ¥67 billion a Livedoor affiliate that owns about 32 percent of Nippon Broadcasting's shares. It will also purchase the remaining 18 percent of NBS shares held by Livedoor itself, according to the agreement.
Fuji TV will spend roughly ¥147 billion to carry out the terms of the deal, the firms said. The effective price of one NBS share will come to about ¥6,300.
Fuji TV will also buy Livedoor shares worth ¥44 billion to be issued by the Internet portal operator through a third-party allotment scheme May 23, and in the end will hold a share of 12.75 percent.
As a result, Fuji TV will become Livedoor's second-largest shareholder. (The Japan Times, Kyodo)
ライブドア、フジテレビ和解
ニッポン放送の株をめぐり攻防を続けてきたライブドアとフジテレビは18日、資本・業務提携に合意し、和解を発表した。
Shukan ST: April 29, 2005
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