Hong Kong-The market's predominant pay TV service, Cable TV, is likely to face tremendous competition in coming months.
The government of the China's Special Administrative Region awarded subscription-TV licenses to five companies last week, including dominant broadcaster Television Broadcasts Ltd. (TVB), as well as Star Television and Pacific Digital Media.
In a statement, Pacific Digital Media said it plans to invest $HK800 million ($103 million) over the next five years to develop its direct-to-home service. It "conservatively" projected 10,000 customers in its first operating year.
The Taiwanese company's shareholders include local utility and telecommunications companies, as well as France's Thomson Multimedia and The Lagardère Group.
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