Japanese nets take stake in Gyao

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.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety