Hong Kong Television Network soars after securing spectrum for mobile TV

|About: Hong Kong Television Network Limited (HKTV)|By:, SA News Editor

Hong Kong Television Network (HKTV +39.4%) shares rocket after the broadcaster secures spectrum from a unit of China Mobile for HK$142.2M ($18.3M) with the intention of using the asset to offer mobile TV services.

Barclays' Joyce Zhou noted that the move "suggests [HKTV] will continue to operate in the Hong Kong television market." The company was denied a free TV license in Oct., a move that led to protests by tens of thousands. The company will resume content production and begin distribution through mobile channels, with 3-5 channels planned.