CNBC buy into Japanese TV

CNBC Asia Pacific has bought a three per cent stake in Television Tokyo Channel 12 Ltd from Nihon Keizai Shimbun — the first US-owned TV network to own a stake in a Japanese TV network.

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By  Marcus Webb Published  June 27, 2002

CNBC Asia Pacific and another unit of General Electric Co, GE Equity, has bought a three per cent (US15.5m) stake in Television Tokyo Channel 12 Ltd from Nihon Keizai Shimbun — the first US-owned TV network to own a stake in a Japanese TV network.

CNBC Asia is a Singapore-based joint venture between NBC and Dow Jones & Co and GE Equity.

TV Tokyo bought a 14 per cent stake in Nikkei-CNBC, a joint cable and satellite TV venture, in which CNBC Asia previously had a 49 per cent stake.

"We want to enhance our news programming by cooperating with CNBC in providing news materials," an official at the company was quoted as saying.

"Our investment in TV Tokyo is cementing our position as the No. 1 provider of television business news on a global basis," says Bill Bolster, chairman of CNBC's international operations,

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