PCCW, Sony to team up to build broadband network studio.
Hong Kong's Pacific Century CyberWorks Ltd. (PCCW) said Tuesday it will team up with a subsidiary of Japan's Sony Corp. to build a 4.2 billion yen ($40 million) broadband media studio in Tokyo.
The studio, expected to begin construction later this year, will provide PCCW's converged Internet and television content service to Japan by mid-2001.
PCCW, the largest Internet company in Asia, said in a statement that its unit, Pacific Century CyberWorks Japan Ltd. (PCCW-Japan), will form a strategic business alliance with Sony PCL Inc., a wholly owned subsidiary of Sony Corp.
Sony PCL will provide leading-edge audio and visual hardware, and technical support in the construction and development of the studio.
The studio will be responsible for developing and editing content for PCCW's broadband content service, named Network of the World (NOW), in Japan.
It will also edit and translate popular Japanese content into multiple languages for export via NOW's global network.
PCCW said it is also planning to set up studios in New York and Greater China, an area covering China, Hong Kong and Taiwan, for its NOW service.
Its London studio, employing about 300 people, began offering English content on the service in June.
PCCW, which last week completed its acquisition of Hong Kong's oldest telecommunications carrier, Cable & Wireless HKT Ltd., in the largest-ever corporate takeover in Asia, has been active in investing in the Japanese market.
PCCW-Japan announced Aug. 10 that it will invest about $250 million to buy a majority stake in Japan's Jaleco Ltd., an entertainment software producer. The deal is expected to be finalized in November.
In July, PCCW acquired a 16% stake in Tomen Mediacom, a Japanese
company that has stakes in several Japanese cable television operations.
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|Comment:||PCCW, Sony to team up to build broadband network studio.|
|Publication:||Japan Consumer Electronics Scan|
|Date:||Aug 28, 2000|
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