(From left) Nippon Broadcasting System President Akinobu Kamebuchi, Livedoor President Takafumi Horie, Fuji TV chairman Hisashi Hieda and Fuji TV President Koichi Murakami

Under the deal, Fuji TV will gain Livedoor's 50 percent stake in Nippon Broadcasting and make the radio broadcaster an affiliate.

Fuji TV will purchase for some ¥67 billion a Livedoor affiliate that owns about 32 percent of Nippon Broadcasting's shares.

It will purchase the remaining 18 percent of NBS shares held by Livedoor, according to the agreement.

Fuji TV will buy Livedoor shares to be issued by the Internet portal operator through a third-party allotment scheme May 23, and in the end will hold a share of 12.75 percent. As a result, Fuji TV will become Livedoor's second-largest shareholder.

As for a business alliance, which the Livedoor side had actively pursued, the two companies have yet to reach a full accord.

Livedoor, led by 32-year-old entrepreneur Takafumi Horie, envisioned forming a business partnership with the media group by integrating the Internet with traditional media, including newspapers, TV and radio.

The ensuing tug of war turned into Japan's most heated corporate takeover battle.

The Japan Times Weekly: April 23, 2005
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