Nikkie Net. SONY's president sits on JSkyB board..............
Sony to take 25% stake in JSkyB
Sony Corp. will take a 25% stake in JSkyB, a Japanese digital satellite TV broadcaster, according to an agreement between News Corp. and Softbank Corp., informed sources said.
The three were initially expected to hold equal shares of JSkyB, which is scheduled to begin broadcasting in April. Sony's share will be curbed on Softbank's request, and Softbank and News Corp. will continue to lead the venture.
Sony's views are to be reflected on JSkyB's executive board, which will consist of top officials from the three firms, including Sony President Nobuyuki Idei.
In December, News Corp. and Softbank both put up 10 billion yen to found Japan Sky Broadcasting Co., the JSkyB operator. They will each sell 12.5% of their outstanding shares to Sony, so their stakes will drop to 37.5%.
Softbank President Masayoshi Son is the president of the broadcaster, while News Corp. Chairman Rupert Murdoch is chairman.
JSkyB will start broadcasting with nine channels and plans to expand to 150 by spring 1998. Sony's equity participation should cement access to programming from Sony Pictures Entertainment, a major U.S. filmmaker. |
