Takafumi Horie

The approach consists of selling music company Pony Canyon, a key asset of Nippon Broadcasting, to Fuji TV to make the takeover of the radio firm less attractive for Takafumi Horie's Livedoor, and considering talks with the Internet service provider about a possible alliance as proposed by the firm.

The TV and radio companies are members of the Fujisankei Communications Group.

The plan is seen as a "scorched earth" defense strategy to reduce Nippon Broadcasting's corporate value by selling off important assets to make it less attractive to Livedoor.

Horie has written to all board members of Nippon Broadcasting, asking them to keep holding key assets, such as shares in Fuji TV and Pony Canyon.

The Japan Times Weekly: March 19, 2005
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