MTV Acquires Full Ownership of MTV Japan Joint Venture

Authored by Mark Hefflinger on August 29, 2006 - 1:35pm.

Tokyo - Viacom's MTV Networks announced on Tuesday that it has acquired full ownership of its MTV Japan joint venture from H&Q Asia. Financial terms of the deal were not disclosed. Prior to the deal, MTV Networks was a minority shareholder in the venture. MTV Networks plans to integrate MTV Japan with Nickelodeon and the Flux digital media brand it operates in the Japanese market. MTV Japan was created in 2001, following H&Q Asia's acquisition of Japanese music channel Vibe from Pioneer and subsequent partnership with MTV Networks. The acquisition will be MTV Network's largest in the Asia-Pacific region and will enable the company to accelerate growth in Japan and the region. Another Viacom property, BET Networks, last week acquired full ownership of its interactive unit, which was also a joint venture with outside investors.

http://biz.yahoo.com/prnews/060829/nytu076.html?.v=58
http://www.hqap.com
http://www.mtvjapan.com