Wednesday, April 1, 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:
HKTV denies deal to buy ATV (44 mins ago)
ATV sold to Ricky Wong: report (03-31 18:21)
HKU nets a 147 million-year-old native (03-31 18:18)
Pan-dems vote down border post fund request (03-31 14:05)
Michael Tien calls for new airport terminal (03-31 14:05)
British banker due back in court in double murder (03-31 14:00)
Leung side-steps ATV license question, for now (03-31 12:48)
Execs can’t cross ideological bridge (03-31 12:46)
Wine mag sets June debut (03-31 11:37)
18.8m credit cards in use, deals worth HK$151b (03-30 19:02)

More breaking news >>

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