Wednesday, October 1, 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:
Paul Chan, wife guilty of libel, fined HK$230k (09-30 18:47)
China suspends HK tours: reports (09-30 18:15)
Printing error discovered in Hospital Authority system (09-30 18:04)
British PM reminds China of obligations over Hong Kong (09-30 17:32)
Minimum wage raised for foreign domestic helpers (09-30 17:28)
Occupy to open way for emergency services (09-30 17:14)
Emergency services disrupted: police (09-30 16:56)
Several bus routes remain closed (09-30 16:53)
Fiscal reserves at HK$711b (09-30 16:43)
China backs Hong Kong leaders against 'illegal' acts: govt (09-30 16:36)

More breaking news >>

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