Jupiter acquiring majority stake in broadcaster
TOKYO — Jupiter Telecommunications, Japan’s largest cabler, is acquiring a majority stake in sports channel operator J Sports Broadcasting.J:Com will increase its present 33.4% stake in JSB by buying trading house Itochu’s 15%, Sony Broadcast Media’s 10.7% and Broadmedia’s 10.7% shares. It is also negotiating to buy Fuji Television Network’s 10.7% share, which will bring its stake to about 80%, worth $84 million. JSB will become a consolidated subsid of J:Com by October. JSB is Japan’s largest sports channel provider with 7.6 million subscribers. It operates four channels including J Sports ESPN and covers Major League Baseball, English Premier League soccer and Japanese professional baseball and soccer via cable, satellite and IPTV. J:Com provides cable, Internet, telephone and mobile communications via 23 subsids in Japan.
Want Entertainment News First? Sign up for Variety Alerts and Newsletters!