After a highly publicized battle for control of Nippon Broadcasting System Inc., Livedoor Co. and Fuji Television Network Inc. said Monday they have reached an agreement that lets them lay down their arms.
Under the deal, approved during respective extraordinary executive meetings in the afternoon, Fuji TV will gain Livedoor's entire 50 percent stake in Nippon Broadcasting and eventually make the radio broadcaster a wholly owned subsidiary.
Fuji TV will purchase for some 67 billion yen a Livedoor affiliate that owns about 32 percent of Nippon Broadcasting's shares. It will also purchase the remaining 18 percent of NBS shares held by Livedoor itself, according to the agreement.