Japanese satellite broadcasting venture Japan Sky Broadcasting Corp (JSkyB) said on Wednesday that Fuji Television Network and Sony Corp would join the venture set up by News Corp and Softbank Corp, with all four companies as equal partners.
Four other Japanese firms leasing company Orix Corp, trading house Marubeni Corp, advertising agency Dentsu Inc and telecommunciations services company Hikari Tsushin Inc are also planning to invest in the venture, JSkyB said in a statement. It said the chairman of electronics firm Aiwa Co Ltd, Hajime Unoki, would become chairman of the JSkyB venture in place of News Corp head Rupert Murdoch. , while Masayoshi Son, president of Softbank, would remain as president of JSkyB.The changes were intended to strengthen the management of the venture.
Asked about speculation that a Walt Disney Co
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DIS.N unit would participate in JSkyB, Murdoch said: There has been discussion with various Hollywood studios, but nothing has been decided on.
Murdoch also said JSkyB will continue friendly relations with TV Asahi, in which JSkyB used to own a majority stake, and with its parent Asahi Shimbun, a mass-circulation daily.
Murdoch said: If TV Asahi wants to take a stake in JSkyB, we are happy to comply with their wishes.
Sony Corp president Nobuyuki Idei said a partnership with Fuji TV did not mean that Sony would join hands with it in a new digital satellite broadcasting service that Japan plans tolaunch in 2000.
We are ready to talk to other broadcasters as well in the new satellite broadcasting business, Idei said.
Sony has been widely speculated to be intending to acquire a broadcasting licence for the digital satellite broadcasting services that Japan plans to launch in the year 2000.
The ventures statement said Sonys visual and music software will greatly help JSkyBs operations.
It added that Sonys strength in production and sales in the digital field and its technologies to develop digital products would also help the venture.
Fuji TVs experience and name in the broadcasting industry as well as the variety of its programme content are indispensable for JSkyB, the venture said.
Fuji TV is one of Japans leading terrestrial broadcasting companies.