Trans Cosmos ain't sleeping. News:
Tuesday, February 8, 2000
NTV, Trans Cosmos Partner On E-Commerce Web Site
TOKYO (Dow Jones)--Nippon Television Network Corp. (9404), a major Japanese broadcasting network, said Tuesday it will set up an Internet company with Trans Cosmos Inc. (9715) and The Yomiuri Shimbun.
The new company will be capitalized at Y200 million and established March 1, NTV said in a statement.
The broadcaster will take a 70% stake in the company, while computer services firm Trans Cosmos will invest 20%. The Yomiuri Shimbun, a major Japanese newspaper and magazine publisher and NTV's largest shareholder, will own the remaining 10%.
The new company will serve as the Internet division of the NTV group, NTV said. The company, as an independent entity, will respond to the anticipated fusion of broadcasts and telecommunications as Internet use spreads rapidly, the broadcaster added.
In addition to transmitting information over the Web, as it does currently with content from its popular TV programs, NTV will use the new company to enter the e-commerce field and sell products on the Internet. |
