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Microsoft invests in Japan network |
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Written by Mark Schilling
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Friday, 05 September 2008 |
TOKYO -- Microsoft and 12 other companies will invest in Japan Intl.
Broadcasting (JIB), Japan's first English-language broadcasting
service, according to an unsourced report in the Nikkei business
newspaper on Thursday.
The company, a subsid of pubcaster NHK, has capital of $1.48 million and will issue $1.75 million in new shares in October.
In
addition to Microsoft, corporate buyers will include four major
networks, Mizuho Corporate Bank and other companies not yet announced.
After the cash injection, NHK's stake in JIB will fall to about 60%.
Launched
in April, JIB moved from the planning stage to full-scale operations on
Sept. 1. In February it plans to start a 24-hour English-language
broadcasting service via cable, satellite and broadband featuring NHK
news and other NHK shows, as well as original programming.
By the
end of March, it hopes to reach 110 million households worldwide in
North America, Europe, the Middle East, North Africa and Southeast Asia.
© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
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Last Updated ( Thursday, 11 September 2008 )
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