Economic Slide Catches Up with HK's Cable TV

From: Multichannel News | Date: July 20, 1998| Author: | Copyright information

HONG KONG - The economic downswing here has had a marked impact on monopoly pay television operator Cable TV, with subscription levels stagnating and parent company Wharf Holdings expecting the unit to post a $39 million loss for 1998.

Although Cable TV began the year reporting positive cash flow for the first time since it began transmissions in November 1993, the regional economic slowdown is now keenly being felt in Hong Kong, with higher unemployment and less growth.

Sources close to the company admitted that its net growth was just two subscribers in June, despite a ...

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