HK Regulator Approves Updated Investment Plan from PCCW
Following an application by domestic pay television programme service (pay TV) licensee PCCW Media, Hong Kong’s Communications Authority has approved PCCW Media’s updated six-year investment plan for 2015 to 2021. Under this updated investment plan, the total investment by PCCW Media for the period will be adjusted to HK$18,152 million, comprising $995 million for capital investment as well as $17,157 million for programme investment and other operating expenditures.
Pursuant to the relevant licence condition in the pay TV licence of PCCW Media, unless otherwise approved by the CA, PCCW Media is required to comply with the statements and representations in the Licensee’s Proposal, including a six-year investment plan for 2015 to 2021 amounting to $23,548 million, comprising $1,100 million of capital investment for the development, upgrading and maintenance of its infrastructure and transmission facilities as well as $22,448 million for programme investment and other operating expenditures.
In approving PCCW Media’s updated investment plan, the CA recognised the increasingly challenging business environment for broadcasters amidst recent economic downturns and substantial changes to the industry landscape since the investment plan was formulated back in 2013. Under its updated investment plan, PCCW Media will continue to upgrade its broadcasting facilities and invest in programming and production in the remaining two years covered by the updated plan.
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