Wednesday, October 7, 2015   

Ricky Wong draws a blank in bid for TV license
(10-15 17:22)

Hong Kong Television Network Limited (1137) failed to secure a free-to-air TV license although Ricky Wong Wai-kay had invested more than HK$300 million in the hope of securing a license.
PCCW's (0008) Hong Kong Television and Fantastic Television of i-Cable Communications (1097) were awarded free TV licenses, the Secretary for Commerce and Economic Development Gregory So Kam-leung announced today.
So said the Communications Authority, formerly Broadcasting Authority, had considered proposals, service guidelines, impact to existing market and other criteria in awarding licenses.
PCCW is expected to invest HK$600 million over the next three years. I-Cable, on the other hand, will invest HK$1 billion over the next six years.
Before the announcement, HKTV closed at HK$3.07, up 28 percent from yesterday's close. i-Cable ended 20.5 percent higher at 47 HK cents.
PCCW (0008) reversed losses and closed 0.6 percent higher at HK$3.48.

Other Hong Kong breaking news:
Jakarta seizes HK-bound shipment of 3,000 shark fins from endangered species (10-07 19:16)
St Jerome’s kindergarten dispenser water exceeds WHO lead limits (10-07 18:18)
Ferragamo re-opens upgraded Kowloon boutique (10-07 17:36)
Missing HK yacht’s emergency beacon falls silent (10-07 17:21)
John Tsang predicts 3.6pc growth from next year (10-07 17:15)
HK forex reserves rise to US$345.8b in September (10-07 17:07)
Panda cub hopes dashed (10-07 17:02)
Pan Asia Symphony Orchestra to perform three concerts (10-07 13:02)
Councillor Fong fined for landfill protest in Legco (10-07 12:23)
Macau’s Studio City lays out the welcome mat (10-06 21:29)

More breaking news >>

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