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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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time
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101689
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10168900.013
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1990-09-19
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19 lines
BUSINESS, Page 60Business NotesENTERTAINMENTRocking All Over the World
The fanfare had barely quieted down after Sony's buyout of
Columbia Pictures when the Japanese were at it again. Last week
Japan's largest communications concern, Fujisankei, paid $150
million to buy a 25% stake in Britain's hottest record company,
Virgin Music Group. Fujisankei's holding is the biggest Japanese
share in any British company. The deal will give Fujisankei, which
owns the daily newspaper Sankei Shimbun and a music and video
company called Pony Canyon, entree to the West. Says joint chairman
Hiroaki Shikanai: "We want to dispatch our thoughts and our culture
to the world."
Virgin founder and chairman Richard Branson has similar ideas
about Japan, where his company could market records by such stars
as Phil Collins, Paula Abdul and Ziggy Marley. Branson, 39, said
the deal will "provide a springboard for our ambitions to become
the world's No. 1 music group."