Yahoo retains majority in video-streaming site
TOKYO — Five Japanese media companies, TV Asahi, TV Tokyo, Dentsu, Tokyo Broadcasting System Holdings and Hakuhodo DY Media Partners, have taken stakes in video-streaming portal site Gyao.
Corporate parent Yahoo remains the leading shareholder with a 51% stake of Gyao’s $2.74 million capital, with Asahi, Dentsu and Tokyo Broadcasting System Holdings each taking 7% stakes and TV Tokyo and Hakuhodo, 3%.
Other shareholders include Fuji TV and NTV networks and broadband operator Usen, which sold its majority stake in Gyao to Yahoo in April 2009, while retaining a 7% share.
The site, which attracts 10 million users monthly with streaming content that ranges from classic pics to recent TV dramas, moved into the black in December in a month-on basis, according to Yahoo.