DoCoMo to Buy Stake in Fuji TV
Fuji Television Network Inc., Japan’s biggest broadcaster, said it’s in talks to sell a stake to NTT DoCoMo Inc. Tokyo-based Fuji confirmed the negotiations in a statement to the Tokyo Stock Exchange, following a Nihon Keizai newspaper report saying DoCoMo is in talks to buy a 3 percent stake in the broadcaster for about 20 billion yen ($171 million). Fuji Television may sell treasury stock to DoCoMo, the newspaper reported, without saying who provided the information.
Tokyo-based Fuji earlier this year faced a hostile takeover bid from Japanese Internet company Livedoor Co., which tried to buy its radio affiliate Nippon Broadcasting System Inc. in February. Fuji Television in April paid Livedoor about 147.4 billion yen to end a two-month battle. DoCoMo, the world’s second-largest wireless operator, hasn’t decided to buy the stake, spokesman Masanori Goto said, without elaborating. Continue