Cable Operators

Liberty to Consolidate J-Com

2/18/2005 4:27 AM Eastern

Liberty Media International Inc. said it will fully consolidate Jupiter Telecommunications Co. Ltd. for financial-reporting purposes effective Jan. 1, and the Japanese MSO will initiate a public offering of stock on the Jasdaq Securities Exchange.

LMI, which owns 45% of J-Com, announced in December that it had formed a holding company -- LMI Sumisho Super Media LLC -- with 20% J-Com equity holder Sumitomo Corp. to hold their combined stakes in the Japanese MSO. It was speculated at the time that the formation of the holding company was a step toward eventually taking J-Com public.

J-Com is the largest MSO in Japan, with about 1.9 million customers. LMI has said in the past that having a public Japanese currency would allow it to roll up other smaller Japanese cable operators.

The J-Com initial public offering is expected to occur March 23, and it could raise as much as $868 million through the sale of up to 1.2 million shares.

Want to read more stories like this?
Get our Free Newsletter Here!

Cloud Summit

Raleigh Marriott City Center, Raleigh, NC