TOKYO -- Cable and satellite channel provider Jupiter TV will buy satellite broadcaster ep Broadcasting by the end of March, according to company sources.
Jupiter will first take a 78 percent stake in ep Broadcasting, comprising the 44.2 share owned by Matsushita Electric and the 31.8 share owned by Toshiba. The aim of the deal is to strength Jupiter's HD broadcasting line-up, as the Japanese broadcasting biz makes the transition to digital.
The company also intends to acquire the remaining ep Broadcasting shares, but no timetable has been set.
Launched in 2001, ep Broadcasting specializes in HD programs beamed via communications satellite in the 110 orbital position. Contents of its HD channel include cultural shows, documentaries and pics. Capitalization is 5.0 billion ($42.4 million).
A 50-50 joint venture of Sumitomo Corp. and US-based Liberty Global, Jupiter broadcasts a total of 15 channels to cable and satellite subs, including Discovery, Golf Network, Movie Plus, which specializes in foreign pics, and Nihon Eiga Channel, which broadcasts new and classic Japanese pics.
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