i-Cable rescued for now, but Hong Kong broadcaster must rebrand and embrace internet age to survive, experts say

May 30, 2017
Industry News
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Pay television company needs to focus on online content following approval by minority shareholders of rescue plan to raise cash for struggling firm
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Phila Siu
phila.siu@scmp.com

Hong Kong pay television broadcaster i-Cable Communications must rebrand, step up internet content and diversify its business to thrive amid fierce competition, industry experts said on Monday.

The comments came after minority shareholders voted to approve a rescue plan to raise cash for the struggling company, which has recorded losses for the last nine years.

“The broadcaster needs to find its uniqueness. The television market in Hong Kong is a small one, and TVB is already occupying a large market share,” said Dr Sydney Pun Sou, assistant professor at the department of cultural and creative arts at the Education University of Hong Kong.

In March, i-Cable’s majority owner Wharf (Holdings) said it would stop funding the broadcaster after it reported a HK$313 million net loss for last year.

Since then New World Development chairman Henry Cheng Kar-shun and tycoon David Chiu Tat-cheong, the main backers of white knight consortium Forever Top, have come to the rescue and are set to be the new majority shareholder. Continue Reading
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