LIVEDOOR SLAMS ON THE DINOSAURS

"Livedoor, the Japanese Internet company at the center of a media takeover battle, has bought more than 50 percent of a radio broadcaster that also is being sought by a major TV network, Japanese media reported Wednesday.

The struggle is widely viewed in Japan as pitting an Internet upstart - led by brash, youthful entrepreneur Takafumi Horie - against the aging, conservative establishment that controls the media industry.

Hostile takeovers are rare in Japan, and the unfolding fight has several politicians worried about Japanese companies being snapped up by foreign investors, although Horie is Japanese.

Last month, Livedoor announced it had amassed a 35 percent stake in Nippon Broadcasting, stunning the nation - and management at a major TV network in which Nippon Broadcasting is the top shareholder.

Controlling Nippon Broadcasting is expected to give Livedoor influence over Fuji Television Network Inc., which is part of a media conglomerate that includes a film studio, record company, daily newspaper and other interests."

Forbes

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