A top-level meeting between Fuji Television Network Inc. and Livedoor Co. is expected this week to try to settle a battle for control of Nippon Broadcasting System Inc. with an eye on forming a capital and business alliance, informed sources said.
Fuji TV President Koichi Murakami and Livedoor President Takafumi Horie are expected to agree that Fuji will purchase Livedoor’s entire stake in Nippon Broadcasting at around 6,300 yen per share while buying new shares to be issued by the Internet service provider, the sources said.
Fuji TV will use 140 billion yen at most to retain control of the radio broadcaster, but Livedoor is demanding a higher price for the Nippon Broadcasting stake, apparently seeking a total of 160 billion yen to 180 billion yen from Fuji TV, the sources said.
Under a proposal, Fuji TV and Livedoor would conclude cross-shareholding ties, but the Fuji side remains opposed to the idea, the sources said.
The two sides are also expected to agree to set up a joint panel to consider how to achieve the integration of Internet and broadcasting services as part of their business alliance, they said.
The two company leaders will meet after their deputies discuss details of the agreement, the sources said.
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