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Livedoor Co. President Takafumi Horie is bound and determined to secure a majority stake in Nippon Broadcasting System Inc. and beat Fuji Television Network Inc. in a high-profile acquisition battle over the radio broadcaster.

If Livedoor succeeds in acquiring Nippon Broadcasting’s management right by securing a majority stake, it will then aim to take over Fuji TV by increasing the radio firm’s capital through issuance of new shares to raise funds for acquiring the TV broadcaster, Horie said in an interview Monday.

“Whether we can secure the majority stake depends on a court decision on an injunction,” the head of the fast-growing Internet service provider said, citing a lawsuit Livedoor has filed against a Nippon Broadcasting plan to issue share warrants to Fuji TV.

Horie said Livedoor plans to fight all the way to the Supreme Court and indicated that even if the injunction suit is rejected by the top court, it will continue to seek other legal remedies.

Livedoor filed a lawsuit with the Tokyo District Court on Feb. 24, applying for an injunction to bar Nippon Broadcasting from issuing share warrants worth 15.87 billion yen to Fuji TV. The radio firm is eyeing the plan to thwart Livedoor’s takeover bid.

Horie criticized Nippon Broadcasting’s plan, which was released Feb. 23, saying, “Such a tactic to prevent a takeover is like a belated move at rock-scissors-paper.”

He reiterated that the planned issuance of share warrants by Nippon Broadcasting could violate the Commercial Code, saying the radio broadcaster has “not clarified the planned use of funds” to be collected from Fuji TV. The code bans a new share issue aimed at retaining management rights.

Horie also said the fact that the current market price of Nippon Broadcasting shares is above the acquisition price set by Fuji TV in its tender offer “serves as a tail wind” for the startup firm.

Court hears both sides

The Tokyo District Court began hearing statements Tuesday from Nippon Broadcasting System Inc. and Internet firm Livedoor Co. over the radio broadcaster’s plan to issue stock warrants to Fuji Television Network Inc.

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