RealTime IT News

NTT Expected to Create New Multimedia Company

Nippon Telegraph & Telephone Corp. in Tokyo, the world's largest phone company, reportedly will form a new company next month to provide multimedia services to expand usage on the Internet.

The new company, temporarily called NTT ME Joho Ryutsu, will provide marketing and advertising services through the Internet as well as improved search directory services, according to Bloomberg News.

"NTT needs a company that will play a key role in the multimedia businesses within the group,'' Yasutaka Akabane, general manager of NTT's multimedia business department, was quoted as saying. "We will closely work with NTT's other group companies to develop NTT's overall multimedia business.''

NTT ME Joho Ryutsu will be capitalized at about $99 million with 200 employees.