[00-8-10] Hong Kong - PCCW In Broadband Deal With Japan's Jaleco
By Staff, itdaily.
HONG KONG, CHINA,
10 Aug 2000, 12:20 PM CST
Hong Kong - PCCW In Broadband Deal With Japan's Jaleco 08/10/00 HONG KONG, CHINA, 2000 AUG 10 (NB) -- By Staff, itdaily. Pacific Century CyberWorks (PPCW) is to take an 81 percent stake in Japanese entertainment software producer Jaleco, in an agreement worth about US$250 million.
The company is to be renamed Pacific Century CyberWorks Japan (PCCW-Japan).
To help finance the deal, the new company will issue about 84 million new shares and three Japanese blue chip companies have agreed to invest: advertising agency Dentsu, financial services company Orix and PIA, an entertainment ticketing service and lifestyle publisher.
PCCW intends to focus the business on providing broadband Internet content.
The new company will be split into three business units:
NOW Japan - PCCW-Japan will roll out Network of the World (NOW), a digital TV-broadband service and will build a local NOW studio to create Japanese content. Sony PCL will co-operate in content production.
Content Export - PCCW-Japan will edit and translate Japanese content for distribution through the parent company's network.
Data Centre/ASP The company will offer value-added data center and application services to Japanese corporate clients, leveraging experience from Cable & Wireless HKT and core capabilities in content management and video-streaming.
Source : ITDAILY.COM, itdaily.com
Reported by Newsbytes.com, newsbytes.com.
12:20 CST
(20000810/WIRES ASIA/)
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