Tokyo Broadcasting System Inc. announced Wednesday that it will issue 20.6 billion yen in new shares to major ad agency Dentsu Inc. and several of its other business partners to raise money for new projects. The television broadcaster also said it will invest 10 billion yen in eAccess Ltd.’s mobile phone business as part of efforts to build its presence in the nation’s wireless network, which is rapidly gaining influence as a media outlet.
TBS, which has been dependent on its traditional TV broadcasting business, said the money will be invested in new businesses, including mobile phones and digital content. TBS officials explained that the company would be focusing on its presence in new media, including wireless networks and the Internet.
“The world of mass media is witnessing a huge change that rivals the shift from radio to TV,” TBS Senior Managing Director Kenichiro Kidokoro said. “Mobile phones will become a very powerful personal data terminal in the future.” Continue