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HONG KONG: PCCW is proceeding with plans for a free-to-air TV service in Hong Kong.
The telecoms giant says it will soon apply for a licence in the territory.
Hong Kong's biggest fixed line operator has posted some rosy figures for 2009.
PCCW booked an 18 percent jump in full-year net profit, to US$193 million.
This was thanks to a turnaround in its pay TV business, with subscriptions passing the one million mark - up 5 percent compared to 2008.
And PCCW is seeking to make a foray in the free-to-air space, planning to apply for a licence soon.
Alexander Arena, Group Managing Director of PCCW, said: "We look forward to being able to compete in the free TV space. We think that not only do we have the technology, not only do we have the content strengths - the people and the talents and the studios, but we think we've got some new ideas too."
Two other pay-TV channels in Hong Kong have recently announced similar moves, in a bid to break the current duopoly held by terrestrial broadcasters ATV and TVB.
Tuesday's results are the first since PCCW chairman Richard Li scrapped a US$2 billion buyout plan.
Richard Li's attempt to take the company private last year was blocked by the Court of Appeal. Hong Kong's securities regulator argued votes were rigged in the shareholders' meeting that first passed the deal.
Under the plan, majority shareholders PCRD and China Netcom offered HK$4.50 cents per share.
The deal outraged some minority shareholders who said the price was far too low.
Executives say today, there are no plans by major shareholders to revive the privatisation attempt. - CNA/de
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