Dentsu, Japan's top advertising agency and the fourth-largest in the world, said Tuesday it has signed an agreement with Walt Disney that covers "exclusive broadcasting rights" to new theater movies, old films, TV dramas and cartoons in Japan.
The agreement also covers "sales of these rights to TV broadcasting stations," Dentsu said.
Dentsu capped its first 100 years of exerting powerful influence in Japan's media industry with a Nov. 30 listing on the Tokyo Stock Exchange. With its massive market cap and cash position, the Japanese ad king aims to turn itself into a more aggressive international player.
Dentsu said it will continue to acquire broadcasting rights and promote sales activities for 'killer' content from Walt Disney and other Hollywood companies, and it aims to extend the development and distribution of content in the broadband arena.
Shares of Dentsu rose 1.8 percent to 563,00 yen on Tuesday. Walt Disney stock closed Monday down 50 cents, or 2.3 percent, at $21.37 in New York.
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