Tuesday, December 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:
Leung off to Guangdong on Friday (2 hrs 43 mins ago)
Dongjiang River toxins taint HK reservoirs, Greenpeace says (12-01 15:57)
52 flower show stalls up for auction (12-01 15:54)
Court extends publication ban on HKU council talks (12-01 12:45)
Leung supports express rail costs limits to ease public burden (12-01 12:42)
Retail sales slide continues in October (11-30 19:36)
Financial Services chief expects yuan milestone (11-30 19:32)
MTRC proposes HK$19.5b special dividend (11-30 19:12)
Activists decry death penalty (11-30 15:52)
Tom Jones returns for one more evening (11-30 13:37)

More breaking news >>

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