LMI, Sumitomo Close ‘Super Media’ Deal1/07/2005 3:46 AM Eastern
Liberty Media International Inc. completed a previously announced deal to create a new media holding company with Sumitomo Corp.
In a securities filing Jan. 3, LMI said it closed the deal Dec. 28, contributing its 45% interest in Japanese MSO Jupiter Telecommunications Co. Ltd. (J-Com) into the new entity, called LMI/Sumisho Super Media LLC.
Combined with Sumitomo’s 20% interest in J-Com, LMI/Sumisho Super Media controls about 65% of the Japanese MSO.
Many analysts believe the creation of Super Media is a precursor to a possible initial public offering of J-Com.