Kadokawa Publishing, a Japanese publisher with interests in film production, is boarding Japanese Movie Satellite Broadcasting (Nihon Eiga Eisei Hoso), a start-up movie channel operated by News Corp, Sony, Fuji TV, Softbank and Toho.
Although Kadokawa has supplied content to satellite television, the move marks the company's first venture into satellite TV management. The channel, which specialises in Japanese movies, is carried by the SKY PerfecTV satellite platform.
Kadokawa will buy Y100m ($962,000) in new third-party shares that Japanese Movie Satellite Broadcasting (JMSB) plans to issue in May. Following this increase in capitalisation, the channel provider will have Y600m ($5.8m) in paid-in capital. Each of the six shareholders will hold a 17% stake in the channel. Kadokawa will take a seat on the JMSB board.
Through its film production and distribution arm Asmik Ace Entertainment, Kadokawa has produced some of the Japanese film industry's biggest box office hits in recent years including the Ring series of supernatural horror films, which also found success in Hong Kong and other Asian markets. Among its latest productions is a package of animated films for release this summer. Kadokawa intends to supply this and other content to JMSB.