Nippon Television Holdings announced that four affiliated television stations of subsidiary Nippon Television Network will merge their operations on April 1 next year.
The four — Sapporo Television Broadcasting, Chukyo TV Broadcasting, Yomiuri Telecasting and Fukuoka Broadcasting System — will jointly establish a holding company and become its wholly owned subsidiaries, the holding company said Friday.
The aim of the merger is to stabilize their business base and address the increasingly tough business environment resulting from media diversification.
In addition to jointly producing television programs, the four will expand operations other than broadcasting, such as the joint development of apps, and reduce costs by sharing core systems.
Nippon Television Holdings will take a stake of 20% or more in the new holding company, to be named Yomiuri Chukyo FS Broadcasting Holdings Corp., to make it an equity method affiliate.
Currently, Nippon Television Network owns 16.1% to 30% of the four companies.
Chukyo TV Chairman Kimio Maruyama will be appointed the new holding company’s chairman, and Nippon Television Holdings President Akira Ishizawa will be its president.
Prior to his appointment at the new company, Ishizawa will become a nonexecutive vice chairman of Nippon Television Holdings on Jan. 1 next year. His current post will be filled by Executive Officer Hiroyuki Fukuda.