Microsoft, 12 others to invest in Japanese English-language broadcaster - report

Wed. September 03, 2008; Posted: 06:18 PM

TOKYO, Sep 04, 2008 (Thomson Financial via COMTEX) -- MSFT | Quote | Chart | News | PowerRating -- Microsoft Corp, NTT Communications Corp and Itochu Corp, together with 10 other companies will take stakes in Japan's first 24-hour English-language broadcasting service, which will be established by Japan Broadcasting Corp, or NHK, in February, the Nikkei reported on Thursday, without citing sources.

Japan International Broadcasting Inc, the unit of NHK which currently has capital of 200 million yen ($1.8 million), will boost its capital by 190 million yen in October, the business daily said.

The NHK unit will issue new shares in private placements to the 13 firms, which also include Nippon Television Network Corp, Tokyo Broadcasting System Inc, two other commercial TV networks and Mizuho Corporate Bank.

Once the new shares are issued, NHK's interest in the unit will drop to around 60 percent, the report said.

The 13 firms will own the remainder, with each putting up 10-20 million yen and taking stakes of no more than about 5 percent each.

In addition to providing news and entertainment shows in English via satellite 24 hours a day, the firm plans to simulcast programming online, the report said.

NHK intends to work with Microsoft and NTT Communications, which have expertise in broadband services, to develop technologies for the stable distribution of lengthy video via the Internet.

Microsoft has been scrambling to beef up its offerings of video content that can be viewed online in order to better compete with Google Inc, which owns the video sharing site YouTube, the Nikkei said.

($1=108.23 yen)

yasuhiko.seki@thomsonreuters.com

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