HOLLYWOOD — CNBC Asia Pacific and GE Equity are taking a joint financial stake in TV Tokyo. Move reps the first time an American network has invested in a major Japanese broadcaster.
CNBC Asia Pacific and GE Equity, the private equity arm of General Electric, will invest close to $15 million for 3% of the total outstanding equity in TV Tokyo.
TV Tokyo is one of five broadcast nets in Japan and reaches 67% of households. Programming includes original entertainment, news and animated series.
CNBC Asia Pacific will provide business news to TV Tokyo and its affiliates. At present some 10% of TV Tokyo’s programming is focused on news and business.
TV Tokyo plans to up its business news offerings, bolstering its coverage of markets around the world. The two companies will continue to explore further areas of collaboration.
“CNBC has become the major means by which investors can get business news information on any company in the world as soon that news happens,” said Bill Bolster, chief of CNBC’s international operations. “Our investment in TV Tokyo is cementing our position as the No. 1 provider of television business news on a global basis.”
Concurrently, TV Tokyo will buy a 14% stake in Nikkei-CNBC, CNBC Asia Pacific’s Japanese-lingo television business news network.
CNBC Asia Pacific and Nikkei, together with Jupiter Programming, have been partners in Japan since 1999. Nikkei-CNBC reaches 4.2 million homes in Japan, offering 18 hours of Japanese-lingo business news daily.