Platform aiming for 2 million subs
TOKYO – Japanese direct satellite platform SkyPerfecTV aims to go public in 2000 by floating its shares on the over-the-counter market, a company spokesman said Friday.
The platform was formed in May through the merger of PerfecTV and JSkyB. The main investors in SkyPerfecTV, which has capital of 40 billion yen ($275 million), are Rupert Murdoch’s News Corp., trading house Itochu Corp., Sony Corp., Softbank Corp. and Fuji Television Network Inc. (Fuji TV).
SkyPerfecTV is Japan’s largest direct satellite broadcaster, and it had 800,000 subscribers as of the end of July. Company president Koya Mita said the platform needs 2 million subscribers to reach break-even.
SkyPerfecTV has 151 channels, and it plans to boost its lineup to 171 channels by the end of December.
Rival DirecTV Japan had 152,000 subscribers as of the end of July.