TOKYO — Nippon Television Network (NTV), Japan’s second-largest private television station, has bought a 5% stake in Sky Perfect Communications (SPTV), the country’s leading satcaster, with close to 3 million subscribers.
The shares were sold by financially embattled Internet and media giant Softbank Corp.
Not after ‘more control’
NTV chairman Seiichiro Ujiie said: “This is an investment … and not a strategic move for more control.” NTV is now SPTV’s seventh largest shareholder; major stake holders include Sony Corp., Fuji Television Network and trading company Itochu Corp.
With its most recent acquisition, NTV holds shares in Japan’s two most important satcasters, as it also invested in Plat-One Corp., a new competitor for digital satellite broadcasting jointly set up by NTV, Mitsubishi Corp. and Wowow. Plat-One started digital satellite broadcasts Friday.