A fragile peace has broken out between Japanese internet firm Livedoor and Fuji Television Network.
After weeks of increasingly hostile takeover tactics from Livedoor and its young gun president Takafumi Horie, the company is now said to be in talks with Fuji TV. Horie's vision is an alliance spanning the internet, information and entertainment industries.
Although both parties remain tight-lipped at this stage, it is believed the deal could involve Livedoor selling part of its stake in radio company Nippon Broadcasting System to affiliate Fuji TV, while the latter would buy up to 15% in Livedoor.
The internet firm currently holds around 50% of NBS, after it increased its shareholding to gain influence over the Fuji TV board. NBS was until recently the largest shareholder in the TV company with a 22.5% stake [WAMN: 04-Apr-05].
Says Yutaka Murakami, an analyst at Mizuho Securities in Tokyo: "It sounds like they've reached a compromise. It's hard to judge what kind of investment this is because it's not clear what kind of business they're creating."
Data sourced from Financial Times Online; additional content by WARC staff
