Fuji Television Network Inc. and Livedoor Co. said Monday they had completed two financial deals to officially end their battle for control of Nippon Broadcasting System Inc.
In one deal, which made Fuji TV the biggest shareholder in Nippon Broadcasting, the TV broadcaster paid 67 billion yen to acquire an entire stake in Livedoor Partners Co. from Livedoor Financial Holdings Co., a wholly owned unit of Livedoor.
The deal raised Fuji TV's shareholdings in Nippon Broadcasting, including those held by Livedoor Partners, to some 22.59 million shares, or 68.87 percent of all outstanding shares.
Livedoor has become the second-largest shareholder in the radio broadcaster, with a stake of 17.60 percent.
The other deal involved Livedoor's allotment of 133.74 million new shares to Fuji TV for 329 yen per share, giving the TV network a 12.75 percent stake in the Internet portal operator for 44 billion yen.
The two financial transactions follow an agreement between Fuji TV and Livedoor in April to settle their high-profile battle.
Also Monday, Nippon Broadcasting sources said President Akinobu Kamebuchi will resign, to be succeeded by senior managing director Hiroshi Isohara.
The top personnel change was to be informally decided at an extraordinary board meeting Wednesday for Isohara to assume the presidency officially at a board meeting after its general shareholders' meeting in late June, the sources said.