Tokyo Broadcasting System Inc., a TV and radio broadcaster, will reject a proposal by Rakuten Inc. to integrate their managements under a holding company, sources have said.
According to the sources, TBS will accept a proposal by Rakuten, its biggest shareholder, to form a business tieup, but will reject the integration.
As a precondition for the tieup, TBS will urge Japan's largest online shopping mall operator to substantially reduce its nearly 20 percent stake in the broadcaster, the sources said.
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