Major music label Pony Canyon Inc., a key Nippon Broadcasting System Inc. subsidiary, may allot new shares to an investment fund set up by a group that includes the radio company, sources said Wednesday.
The fund was set up by Nippon Broadcasting, Softbank Investment Corp. and Fuji Television Network Inc. last month.
The plan is believed to be aimed at making Pony Canyon a nonsubsidiary of Nippon Broadcasting before Internet portal Livedoor Co. acquires management control of the radio broadcaster.