PCCW Launches HK$300M Independent TV Productions Fund

HONG KONG -- PCCW announces the set-up of a HK$300 million Independent Productions Fund for the acquisition of local independent productions in a bid to support the local production industry, as well as offering a greater variety of TV program choices for Hong Kong viewers.

PCCW welcomes the Chief Executive-in-Council’s grant of the approval-in-principle of HK Television Entertainment Company Limited’s (HKTVE) application for a Domestic Free Television Programme Service License (Free TV license). Our total investment plan across the first six years of operations is estimated to be over HK$1.3 billion, a substantial part of which will be invested in programming and production. In addition to our own productions, we have set aside a pool of funds to be accessed by local creative talents. First conceived more than a year ago, the Independent Productions Fund forms part of PCCW’s preparation for its Free TV service.

This fund aims to draw together the local creative industry and independent producers who share the same vision of bringing viewers more quality choices in TV programs. It will unleash the potential of cross-media talents in films and TV and harness the creativity of independent producers in Hong Kong so that we can offer original and innovative formats of programming for the enjoyment of Hong Kong viewers.

PCCW Ltd. (NYSE: PCW; Hong Kong: 0008)

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