×
You will be redirected back to your article in seconds

Microsoft will upload Japanese cabler Titus

Software co. to buy major stake for $92 mil

TOKYO — Microsoft is nearing a deal to buy a major stake in No. 2 Japanese cable company Titus Communications for about 1 billion yen ($95.2 million) — the largest purchase ever of a Japanese CATV company, industry sources said.

Microsoft is in talks with U.S. cable TV operator MediaOne, which has a 60% stake in Titus, sources said.

The move would mark another chapter in Microsoft’s ongoing efforts to buy into cable companies around the world.

Phone rates snag ‘Net

Internet development in Japan has been stymied by the access fees that telecom giant NTT charges — among the highest in the world. Japan’s telecom ministry said NTT’s local phone rates in Tokyo are three times higher than the rates charged by AT&T in New York.

Microsoft’s move into Japanese cable is seen by industry watchers as a way to get more Japanese consumers onto the Internet by allowing them to avoid the high local access rates for connections over telephone lines.

Stake dinner

Microsoft could reach an agreement for the deal within weeks, and executives of the software giant are expected to come to Japan soon to see about a purchase of shares from Titus’ main stockholders in Japan: electronics company Toshiba and trading house Itochu.

The two Japanese companies each hold a 20% share in Titus. The cabler is capitalized at $259.1 million, including capital reserves.

Titus has about 1 million subscribers. It rang up a loss in the last fiscal year but posted sales of about $50 million.

More Biz

  • Peloton Sued for $150 Million for

    Peloton Sued for $150 Million for Using Drake, Lady Gaga Music Without License

    A group of publishers including Downtown Music Publishing, Pulse Music Publishing, ole, peermusic, Ultra Music, Big Deal Music, Reservoir, Round Hill, TRO Essex Music Group and The Royalty Network filed a lawsuit against Peloton for infringement of more than a thousand musical works, according to a statement from the National Music Publishers Association. The plaintiffs are [...]

  • Bruce Ramer Re-Appointed to Corporation for

    Bruce Ramer Re-Appointed to Corporation for Public Broadcasting Board

    Top showbiz attorney Bruce Ramer has been reappointed to the board of the Corporation for Public Broadcasting, the nonprofit org that administers federal funding for public broadcasting. Ramer, a partner at Gang, Tyre, Ramer, Brown & Passman, was elected chair of the CPB board in October. He previously served as board chair from 2010-2012. His [...]

  • Gary Knell

    Listen: National Geographic Chief Gary Knell on Disney Future, Fox's Legacy

    The marriage of National Geographic Partners and Disney, which becomes official today, is the proverbial brand match made in heaven. Disney is taking over the stewardship of Nat Geo Partners — a joint venture with the National Geographic Society — as part of its acquisition of 21st Century Fox. The transition comes at a time [...]

  • Celebrity Admissions Scandal

    Admissions Scandal Reveals the Deep-Seated Ties Between Celebrities and Top Colleges

    Hollywood is fixated on the federal investigation into a massive college admissions scam. It’s a scheme that has all the ingredients of a ripping yarn, a portrait of the corrosive influence of celebrity and wealth in higher education. It’s also a story that has deep links to the entertainment industry. Felicity Huffman and Lori Loughlin, [...]

  • Songtrust’s Joe Conyers III Slams Streaming

    Songtrust’s New Chief Strategy Officer, Joe Conyers III, Slams Streaming Services’ CRB Appeal

    Songtrust, the digital rights-management platform cofounded by Downtown Music Publishing’s Justin Kalifowitz, today announced that Joe Conyers III has been elevated to Chief Strategy Officer. According to the announcement, as co-founder and GM of Songtrust for the past eight years, Conyers has led the company from prototype to servicing over 20,000 publishers to collect their [...]

  • Paul Ryan

    Fox Corporation Emerges as Standalone Entity, Paul Ryan Joins Board

    UPDATED: 21st Century Fox said Tuesday it has completed the distribution of shares to birth the Fox Corporation. “21CF and FOX are now each a standalone, publicly traded company,” 21st Century Fox said in a statement issued at 8:30 a.m. ET. The separation of new and old Fox begins a new era for the Murdoch [...]

More From Our Brands

Access exclusive content