Takafumi Horie, founder and chief executive of Livedoor, said the portal would ride off the back of radio network Nippon Broadcasting Systems if his bid for the media group was successful.

"We aim to create a new, larger Yahoo," Horie said, adding: "It's going to become the biggest business model."

The 32-year-old businessman, considered by some a "guru", quit his studies at the University of Tokyo to set up Livedoor nine years ago after recognising the business potential of the Internet.

Since then, his computer network development and consulting firm has grown rapidly through acquisitions raising the ire of traditional media operators in Japan.

Livedoor's move to buy Nippon shares in off-market trading has also provoked fierce opposition among some business leaders, prompting the government to speed up stock market reforms.

"I am optimistic about the outcome. I don't want to think about the possibility of failing, but we are also considering other options," Horie told journalists.

He again criticized people running broadcast media in this country as being too slow in decision-making, and warned they would become money losers.

"It would be best to conduct (a takeover bid) in a friendly fashion, but if I don't force it now, we will run out of time," he said.

"The existing mass media have brand names and reach but they only have one way communications," he said. "The Internet will allow consumers to open accounts and make online transactions while listening or watching programs."

Yahoo Japan has four million subscribers, but the size of the market receiving broadcast information was much bigger, he said.

Nippon Broadcasting has attempted to block Livedoor's further acquisition of its shares and recently issued equity warrant rights to parent Fuji Television Network which could dilute the 40 percent stake in Nippon which Livedoor has already acquired.

That issue would give Fuji television the exclusive right to purchase new shares issued by Nippon Broadcasting and late Thursday Nippon Broadcasting employees also entered the derbate, issuing a statement opposing Livedoor's bid.

"He seems to be only interested in taking advantage of the capital structure (of the company), and not interested in joining in the management of the media," the statement said.

"We don't think president Horie understands responsible broadcasting and accurate reporting," it said.

Horie has sought a temporary injunction to block the move arguing the issue violated the law because it was designed to thwart competition in the market.

Nippon Broadcasting's primary asset is a 22.5 percent stake in Fuji, making it the largest shareholder and the most profitable of Japan's five nationwide commercial television networks.

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