Summary:

Yahoo Japan, which is 33.4 percent owned by Yahoo, has majority-bought out Toshiba Corp’s online news search and clipping service unit NewsW…

Yahoo Japan, which is 33.4 percent owned by Yahoo, has majority-bought out Toshiba Corp’s online news search and clipping service unit NewsWatch, for about $11 million.

Under the deal, Yahoo will buy 69 percent of the 89 percent stake Toshiba currently holds in NewsWatch…Toshiba will keep the rest. Other existing shareholders such as Dentsu, Toppan Printing and Mitsui will also keep their holdings.

The Japanese language release is here. For a history of NewsWatch and how it was formed, read this formation release, here.

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