Microsoft Corporation (NASDAQ:MSFT), NTT Communications Corporation, ITOCHU Corporation, and 10 other companies will be investing in a new English-language Japanese broadcasting channel. The channel will be created by the Japan Broadcasting Corporation (also known as NHK).
Japan International Broadcasting Inc. will have about 390 million Yen to put the channel together. After the 13 investors buy shares, NHK will own about 60% of the channel. Other investors include Nippon Television Network Corporation, Tokyo Broadcasting System Inc., two other TV channel companies, and Mizuho Corporate Bank.
Microsoft will be helping NHK broadcast the content on the Internet according to Thomson Financial.