Saturday, November 22, 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:
(Update) Twenty hurt in Light Rail-bus crash (11-21 18:50)
Democracy activists protest outside British consulate (11-21 17:53)
Bid to appeal against injunction order rejected (11-21 17:28)
Nineteen hurt in Light Rail-bus crash (11-21 15:33)
Legco probe into CE blocked again (11-21 14:56)
Eleventh arrest over Legco break-in (11-21 14:56)
HK journalists barred from Philippines (11-21 14:54)
Six in court over Legco break-in (11-21 14:54)
Students should tone down protest: Patten (11-21 11:14)
Student leaders condemn storming of Legco building (11-20 18:32)

More breaking news >>

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