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TV Tokyo affiliate to become biggest shareholder in FM Inter-Wave+
Kyodo, [February 23, 2006]
TOKYO ---TV Tokyo Broadband Entertainment Inc. said Thursday it will become the biggest shareholder in FM Inter-Wave Inc. by obtaining a 39 percent equity stake in the struggling radio broadcaster in a deal valued at 1 billion yen.[floatl]
TV Tokyo Broadband, an Internet-related affiliate of TV Tokyo Corp., will help FM Inter-Wave turn around its business and also eyes introducing a music distribution service through the Internet linked with radio broadcasting, it said.
TV Tokyo Broadband will buy the FM Inter-Wave shares from newspaper publisher Japan Times Ltd. and Nifco Inc., an industrial plastic manufacturer....more....
