RUMOR MILL
Friday, June 30, 2000
SONY, TOKYU TO FIGHT
AT&T, MICROSOFT
The Tag-Team Match Of The Century Will Take Place At Arrowhead Pond On Sunday! Sunday! Sunday!
In an attempt to profit from Japan's rapidly growing Internet business, Sony and cable television operator Tokyu said on Friday they would develop a broadband network.
The move comes just days after U.S. giants AT&T and Microsoft said they would merge to infiltrate the country's fledgling cable Internet business.
The latest alliance includes plans to create a broadband Internet service using Tokyu's existing cable television infrastructure and would also tie up with other CATV operators.
To cement the alliance, Sony will buy a 10% stake, valued at 10 billion yen ($95.10 million), in Tokyu's cable television unit.
