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September 24, 1998

SONY ACQUIRES STAKE IN CHINESE DIGITAL SATELLITE FIRM

By CBR Staff Writer

Sony Corp will acquire a 90% stake in Daifu, a Chinese language digital satellite broadcaster at the end of this week. The electronics giant will buy the stock by the end of the week, according to the Nihon Keizai Shimbun. Sony is buying the 90% stake from trading company Okura & Co, which has gone into receivership; the other 10% of Daifu is owned by Fuji Television Network Inc. Sony is hoping to increase its exports of digital broadcasting equipment to China with the purchase.

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