Thursday, October 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:
Protests risk turning into civil disorder: Court (2 hrs 37 mins ago)
Giant pro-democracy banner hung on Lion Rock (2 hrs 38 mins ago)
LegCo meeting adjourned due to lack of quorum (2 hrs 39 mins ago)
Civil servants show support for democracy protests (10-23 12:39)
'I am not supporting demonstrators': Kenny G (10-23 11:50)
CY slammed over 'poor people' comments (10-23 11:32)
Students may not agree to further talks with govt (10-22 19:00)
Customs seize HK$10 million illicit cigarettes (10-22 18:02)
Kenny G visit protests (10-22 17:12)
Scuffles break out in Mongkok (10-22 16:57)

More breaking news >>

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