Story Categories: Finance, Japan, Satellite TV, TV,

TOKYO -- Mediatti Communications, Japan's number three cable TV operator, has announced plans to buy Yokohama TV Corporation, a cable station covering south Yokohama.

   The sale will be finalized by early July, with Mediatti acquiring shares of number one shareholder JGC Corporation and number three shareholder Fujitsu, which together hold 48% of Yokohama TV stock.    Mediatti is currently the number two shareholder with a 24% stake. The company also plans to buy up the remaining 27% of shares at an unspecified date. The total cost of making Yokohama TV a wholly owned subsid is estimated at Y10 billion ($95.3 million).

    Founded in 1997, Mediatti directly operates seven cable stations, primarily in the Tokyo metro area and surrounding prefectures, as well as U.S. military bases in Okinawa. Among its leading shareholders are Liberty Global and Olympus Capital.

   A central aim of the deal is to expand Mediatti's presence in Yokohama, a major metro area with big growth potential. Another is to catch up with top cable operator Jupiter Telecom and number two Japan Cable Net (JCN).