[ET Net News Agency, 6 August 2020] PCCW Limited (00008) said PCCW Interactive Media,
an indirect wholly-owned subsidiary of the company, has entered into a share purchase
agreement with HKT Interactive Media, an indirect wholly-owned subsidiary of HKT, in
relation to the sale by PCCW Interactive Media to HKT Interactive Media of the entire
issued share capital of PCCW Media for a consideration of US$250 million (or HK$1,950
million based on the agreed exchange rate).
The PCCW Media Group operates the "Now TV" business, which is the leading pay-television
service provider in Hong Kong, offering a wide range of local and international content
through linear TV channels, on-demand and apps.
The company also continues to actively evaluate various strategic alternatives to
support the continued growth of PCCW OTT, including but not limited to seeking to
introduce additional third party financing into PCCW OTT through a potential separate
listing of PCCW OTT and/or additional investment in PCCW OTT from strategic partners. (RC)