Source Pravda.Ru

Foreign companies will not control domestic broadcasters, Japan's parliament says

Japan's parliament on Wednesday adopted legislation that will prevent non-Japanese companies from acquiring shares to control domestic broadcasters, following an attempt earlier this year by a Japanese Internet company, backed by U.S. capital, to take over a radio station.

Under the revised radio and broadcast laws approved by the parliament's upper chamber Wednesday, the government will limit to less than 20 percent the combined stake non-Japanese companies hold in a Japanese broadcaster - either directly or thorough a Japanese affiliate, the AP reports.

The move strengthens current restrictions, which limit only the direct stake held by foreign investors.

Lawmakers scrambled to change legislation earlier this year after Livedoor Co., a Japanese Internet services company, shocked government and business circles by launching a takeover bid for a radio station to win influence over major media group Fuji Sankei. Livedoor had issued convertible bonds to U.S. investment bank Lehman Brothers Holdings Inc. to help fund the acquisition, raising the possibility that the U.S. bank could indirectly control the radio station if it converted the bonds to shares. A.M.

Comments
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
Should Russian athletes go to non-Olympic Games in South Korea?
Indian Origin of Egyptian Civilization
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
Why did the USSR lose the Moon race?
US military men depressed over of Russia's new T-5000 sniper rifle
Russia to counter Boeing's Х37В with top secret MiG-41 project
Should Russian athletes go to non-Olympic Games in South Korea?
Russia to rebuild its former Soviet naval base in Syria's Tartus
Donbass without militia will be worse than Srebrenica - Putin
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Should Russian athletes go to non-Olympic Games in South Korea?
Should Russian athletes go to non-Olympic Games in South Korea?
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Russia to rebuild its former Soviet naval base in Syria's Tartus
Russia not pulling out from any international agreements, Putin says
Capitalism reduced Indonesian cities to infested carcases
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
Kim Jong-un's tactic of hard power teaches USA lesson of obedience