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In response to media enquiries regarding the transfer of PCCW shares, a spokesman for the Commerce, Industry and Technology Bureau said today (July 10):
"According to the domestic pay television programme service licence of PCCW Media Limited and non-domestic television programme service licence of Starbucks (HK) Limited, both are subsidiaries of PCCW, changes to the legal and beneficial interests in the voting control of the shares of the two licensees require the approval of the Broadcasting Authority.
Moreover, any such changes that would result in a disqualified person exercising control of PCCW Media Limited will require the approval of the Chief Executive in Council under the Broadcasting Ordinance.
Under the Broadcasting Ordinance, "disqualified persons" in relation to a domestic pay television programme licensee include a broadcasting licensee (other than a non-domestic television programme service licensee), an advertising agency, a newspaper proprietor, and their controllers and associates."
Ends/Monday, July 10, 2006
Issued at HKT 22:31
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