Sep. 25, 2015, 12:44 PM
Aug. 31, 2015, 12:47 PM
Aug. 27, 2015, 9:14 AM
Apr. 13, 2015, 3:01 PM
- Hong Kong Television (NASDAQ:HKTV) is up 13% in U.S. trading after its colorful chief Wai-Kay "Ricky" Wong announces an offer to air his shows on ailing rival Asia Television.
- ATV, Hong Kong's oldest TV station, found its license wouldn't be renewed by the government beyond April 1, 2016, and is nearly bankrupt.
- HKTV says it will offer four hours of programming a day until Dec. 31 or until ATV folds, and get 50% of advertising revenue in return.
- It's a small lifeline for ATV, but analysts say it's a good test for HKTV: If ratings are good enough, HKTV will have a better application for its own free-TV license.
Apr. 13, 2015, 12:44 PM
Apr. 2, 2015, 9:15 AM
- Government licensing action is moving TV stocks in Hong Kong, as PCCW (OTCPK:PCCWY) moved up as much as 8.6% in regional trading after the government gave it a 12-year free-to-air broadcast license.
- The move comes after the city had been left with just one such broadcaster as the government shut down the license of Asia Television, Hong Kong's oldest TV station.
- HKTV had risen almost 30% in U.S. trading Tuesday on expectations it was stepping in to save the nearly bankrupt ATV, but gave back gains yesterday, -21.2%, as the company denied those reports. HKTV was down 12.5% in Hong Kong trading Thursday.
- I-Cable Communications (OTCPK:ICABY) is awaiting word on its OTA license and moved up more than 4% in Hong Kong on positive hopes there.
Apr. 1, 2015, 12:45 PM
Mar. 31, 2015, 1:55 PM
- Hong Kong Television (NASDAQ:HKTV) has soared 28.3% in U.S. trading on news that its executive chairman, Wai-Kay "Ricky" Wong, is buying a controlling stake in his nearly bankrupt rival Asia Television.
- Media reports have mainland China businessmen Wong Ching and Wong Ben-Koon selling their stakes to Ricky Wong; the two controlled 52% of ATV.
- The financial details are undisclosed and regulators would need to clear the deal; the Executive Council is holding a special meeting tomorrow to discuss it.
- But the government "would rather renew ATV's licence than let it die," says political scientist James Sung Lap-kung.
Mar. 31, 2015, 12:45 PM
Mar. 26, 2015, 12:49 PM
Nov. 26, 2014, 12:49 PM
Oct. 6, 2014, 12:46 PM
Dec. 23, 2013, 10:42 AM
- 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.
Nov. 9, 2011, 9:00 AM
Premarket gainers: YONG +13%. SODA +13%. KITD +10%. CTEL +5%. PANL +5%.| Nov. 9, 2011, 9:00 AM
Losers: ROVI -25%. MFB -21%. STEC -18%. HDY -15%. ING -13%. ADBE -10%. RBS -9%. FIO -9%. ALU -8%. HBC -8%. DB -8%. NCT -8%. BCS -8%. VE -8%. MT -8%. LYG -7%. GM -7%. STP -7%. BZH -7%. ERIC -7%. RDN -6%. TRGT -6%. RL -6%. UBS -6%. RCL -6%. G -5%. ASML -5%. FTE -5%. GRPN -5%. SI -5%. ARMH -5%. SI -5%. MS -5%. NBG -5%. TOT -5%. NOK -5%. RCH -5%. AKS -4%. TEF -4%.