Television Broadcasts (TVB) is confident a proposed listing of its multimedia operation will succeed, despite the recent collapses of Internet-related companies overseas. TVB's assistant general manager Cheong Shin-keong said the main reason for the downfall of Internet start-ups was the high cost of establishing their names and in providing content, two problems TVB would not have. 'Our cash-burn rate should be lower than many other Internet companies,' he said. Among the biggest Internet names to close their doors recently was US toy retailer Toysmart, which folded after 18 months. British clothes retailer Boo.com closed after six months. TVB shareholders yesterday approved resolutions relating to the reorganisation and proposed listing of TVB Multimedia. After the reorganisation, TVB Multimedia would hold portal tvb.com, satellite television service-provider Galaxy Satellite Broadcasting and East Asia Filmed Entertainment. East Asia Filmed Entertainment has acquired the film library of Shaw Brothers (HK), TVB's sister company. General manager Ho Ting-kwan said TVB had yet to appoint a listing sponsor for TVB Multimedia, or determine how much it wants to raise in the listing. Mr Ho said a TVB Multimedia listing was conditional on TVB being granted a pay-television licence, into which it would invest more than HK$1 billion. The Government is expected to make a decision on the licence by mid-year. Mr Cheong said he wanted to wait until the appearance of a more systematic way of measuring Web-site hits in the second half of this year before disclosing viewer numbers of tvb.com. TVB Multimedia would source revenue from advertising, content viewing and sales of entertainment-related memorabilia.