Saturday, February 28, 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:
13 bidders after Pak Shek Kok site (02-27 17:37)
Key officials to skip Democrat Party's dinner (02-27 17:11)
Home buyers borrow HK$30b for new flats in January (02-27 16:50)
Insured mortgage cut to 80pc (02-27 16:48)
Leung to join NPC sessions opening (02-27 16:39)
First time flat buyers face tighter mortgage limits, amid rising prices and alarming debt levels (02-27 16:35)
More students support independence: Undergrad (02-27 16:03)
Man falls to death near PolyU (02-27 15:31)
More hope for reform proposal: Tam (02-27 14:27)
Unions demand seven days' paternity leave (02-27 13:52)

More breaking news >>

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