According to news, Cable Broadband (1097), the parent company of Cable TV and HOY TV, announced that it will return the pay TV license to the government in advance, and it has been approved by the Executive Council. It is expected to terminate the transmission of pay TV signals on June 1.
The license was originally due to expire at the end of May 2029.
It is understood that after the company returns the local pay TV program service license, the group's free TV business will not be affected, and other businesses including broadband communications, telephone services, network construction, mobile communications, etc. will continue to operate as usual.
The talents and resources of CATV can be more flexibly used and invested in the above-mentioned business development.
Sources revealed to "Hong Kong 01" that the company will not lay off employees after returning the license, and the relevant personnel will be deployed to free TV and other businesses.
In addition, the "Cable News" brand will continue to be developed. As for "Cable 18", which provides horse racing information, it will turn to multimedia development.
i-CABLE will suspend trading at 1:16 pm today (14th).
It is understood that after the return of the license, it is expected that the transmission of pay TV signals will be terminated on June 1. Before the formal return of the license, the company will try its best to ensure that all existing customers can continue to watch pay and free TV channels; After the license is returned, citizens will continue to receive the existing free TV channels without being affected.
The surrender of pay TV licenses by Cable TV was approved by the guild.
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Continue to develop the "Cable News" brand
In terms of future development, it is understood that the company is preparing to start filming TV dramas this year, promote cooperation with overseas talents and platforms, and provide the market with effective online and offline content promotion solutions.
In order to meet the habits of the new generation of viewers, some cable TV program content will be moved to online platforms, and investment in multimedia business will also be strengthened.
It is understood that the company will continue to develop the "Cable News" brand and provide news information through the existing three free TV channels: 76 Hong Kong International Finance Channel, 77 HOY TV and 78 HOY Information Channel; as for the "Cable News" which provides horse racing information Channel 18 will develop towards multimedia, researching live broadcasting of races on social media, mobile app "Horse Racing GPS" and other channels, and adding information such as electronic horse scriptures and tips from famous experts in "Horse Racing GPS".
Cable Broadband Suspends Trading Midway in the Noon Pending Publication of Insider Information Announcement Related to Charge License
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