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Yomiuri Shimbun file photo Nippon TV headquarters is seen in Minato Ward, Tokyo, in October 2023.
The Yomiuri Shimbun
21:00 JST, November 30, 2024
Four main broadcasters in the Nippon TV network will integrate their businesses in April through the establishment of a holding company, the stations announced Friday.
The four — Sapporo Television Broadcasting Co. (STV) in Sapporo, Chukyo TV. Broadcasting Co. (CTV) in Nagoya, Yomiuri Telecasting Corp. (YTV) in Osaka and Fukuoka Broadcasting System Corp. (FBS) in Fukuoka — will become wholly owned subsidiaries of Yomiuri Chukyo FS Broadcasting Holdings Corp. (FYCS) on April 1. This holding company will be established through a joint stock transfer among STV, CTV, YTV and FBS, according to the announcement.
Under FYCS, the four aim to establish a new cooperative structure to create a robust management base, thus providing more content that is appealing to viewers in conjunction with Nippon TV and other local stations in its network.
Kimio Maruyama, chairman of CTV, is set to be appointed as FYCS’ chairman and representative director, while Akira Ishizawa, president and chief executive officer of Nippon Television Holdings, Inc., will assume the post of FYCS’ president and representative director.
Nippon Television Holdings will hold at least a 20% stake in FYCS to be its biggest shareholder and make the new holding company its equity method affiliate. The Yomiuri Shimbun Holdings is expected to be the second-largest shareholder in FYCS with about a 15% stake.
Current shareholders of STV, CTV, YTV and FBS will receive stocks to be issued when the holding company is established.
Even after the business integration, STV, CTV, YTV and FBS will continue broadcasting and other activities in their respective service areas. The new holding company will play a central role in promoting collaboration among the four stations.
In their statement, the four local stations said they will continue to work for regional revitalization as core companies by transmitting information on Hokkaido, Tokai, Kansai and northern Kyushu, the regions in which they are based. “We will contribute to the further development and revitalization of local communities by promoting cultural and economic exchanges” in the four regions, as well as such exchanges between Japan and abroad, they added.
As business conditions surrounding regional broadcasters are changing mostly due to the nation’s population decline, the new holding company will take the lead in discussing on joint use of relay stations. FYCS might also consider streamlining its operations in the future.
