Matsushita Elec 6752.T may take BSkyB stake
biz.yahoo.com
TOKYO, April 3 (Reuter) - Matsushita Electric Industrial Co Ltd is in talks with the British Sky Broadcasting Group (BSkyB) BSY.L over taking a possible stake in the company, Matsushita's director in charge of the European division, Seinosuke Kuraku, told reporters on Thursday.
Kuraku did not provide any other details.
Matsushita currently holds a stake in DirecTV Japan, along with Mitsubishi Corp 6503.T , Mitsubishi Electric Corp 6503.T and U.S. company Hughes Electronics Corp ( General Motors Corp ).
DirectTV will start beaming 100 channels later this year when it launches digital satellite broadcasting in Japan.
Matsushita's rival Sony Corp 6758.T is still negotiating its share in Japan Sky Broadcasting (JSKyB) with Rupert Murdoch's News Corp NCP.AX and Japan's Softbank 9984.Q . The venture is scheduled to start beaming 12 channels into Japan this month.
Asked whether Matsushita is talking with the BSkyB group over the participation in the company, Kuraku said that BSkyB is one of Matsushita's candidates for broadcasting partners.
"We are talking to everyone (on participation)" Kuraku told reporters. A spokesman later confirmed that he was referring to the possibility of taking equity positions.
Matsushita's is seeking a broadcasting partner in each area of the European market and BSkyB is one of many candidates, he said.
"BSkyB could be a candidate," Kuraku said, adding nothing has been finalised.
Kuraku said the biggest benefit of becoming a broadcasting operator in Europe is in supplying the hardware.
"We expect sales of set-top boxes and other broadcasting equipment," Kuraku said.
Within three years, Matsushita targets annual sales of 250 million Mark worth of broadcasting equipment, such as portable professional use video cameras, in the European market.
On April 1, Matsushita reorganised and strengthened its European broadcast operations with the creation of Panasonic Broadcast Europe.
The new group has a staff of 100 broadcast professionals, engineers and support personnel, Matsushita said.
The company is based in Britain and Germany, and is responsible for sales and support activities for broadcasters and professional video users throughout Europe, it said. |
