Wednesday, July 23, 2014   

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:
Talks begin between pan-democrats, CS (07-23 17:31)
Completion of M+ museum likely to be delayed (07-23 15:36)
380k signatures against Occupy Central so far (07-23 15:04)
Kwun Tong Line services return to normal (07-23 14:01)
Flights between HK and Taiwan disrupted (07-23 13:55)
Govt urged to buy back Link REIT (07-23 13:53)
Shareholders removed from annual meeting (07-23 10:47)
Hopes dim for reform talks: Cyd Ho (07-23 10:44)
(Update) West Rail Line service delayed (07-22 18:33)
Amber signal cancelled (07-22 17:08)

More breaking news >>

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