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Sony to launch video-sharing network on Friday

Thu Apr 26, 2007 3:46am EDT

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TOKYO, April 26 (Reuters) - Sony Corp. (6758.T) said on Thursday it will launch a video-sharing site in Japan on Friday, making the electronics and entertainment conglomerate the latest challenger to Google Inc.'s (GOOG.O) YouTube service.

News Corp. NWSa.N and NBC Universal said last month they will also launch a free online video site this year, as media firms scramble to compete with popular video-sharing services.

Sony hopes to introduce the service abroad as well, but it said it would first see how well the site is received in Japan before it decides on the overseas launch schedule.

Shares in Sony closed up 0.9 percent at 6,460 yen, compared with a 1.12 percent rise in the Nikkei average .N225.

((Reporting by David Dolan; editing by Sophie Hardach; Reuters Messaging: david.dolan.reuters.com@reuters.net; +81-3432-9911; david.dolan@reuters.com)) Keywords: SONY VIDEOSHARING/

(Add details, share price)

TOKYO, April 26 (Reuters) - Sony Corp. said on Thursday it will launch a video-sharing site in Japan on Friday, making the electronics and entertainment conglomerate the latest challenger to Google Inc.'s YouTube service.

News Corp. and NBC Universal said last month they will also launch a free online video site this year, as media firms scramble to compete with popular video-sharing services.

Sony hopes to introduce the service abroad as well, but it said it would first see how well the site is received in Japan before it decides on the overseas launch schedule.

Shares in Sony closed up 0.9 percent at 6,460 yen, compared with a 1.12 percent rise in the Nikkei average

((Reporting by David Dolan; editing by Sophie Hardach; Reuters Messaging: david.dolan.reuters.com@reuters.net; +81-3432-9911; david.dolan@reuters.com)) Keywords: SONY VIDEOSHARING/

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