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SCMP Reporter

Broadcaster sees bigger audience with real-time market news

PCCW's Now Broadband TV's Business News Channel, which begins broadcasting on Monday, is considering expanding its reach to the southern mainland to gain a broader audience, according to the company's executive vice-president, Stephen Loh Chan.

The first 24-hour business news television channel in Hong Kong will charge users $30 a month, with an early-bird offer of $15 per month on a one-year contract for those who sign up before April 20.

The channel will focus on real-time local stock market news and analysis. Now has set up cameras at 10 brokerages to provide live commentary from analysts and fund managers during trading hours.

'There is room for us  to provide a locally based and comprehensive business news channel,' PCCW deputy chairman Jack So Chak-kwong said yesterday at a press conference.

Mr So said the channel aimed to target Hong Kong's one million  stock investors, but  it might also explore business opportunities  on the southern mainland.

'We think the audience in southern China may have an interest in Hong Kong stock market news as well.  We may explore opportunities in this area,' said Mr Loh, without giving further details.

Now has strengthened its content offering since it launched  in August 2003, offering 110 channels to more than 500,000 users.

Its  business channel marks the first step into content production for PCCW although there are no further plans for making its own programming.

'We will acquire channels if they are available in the market, otherwise we invest in it,' Mr So said, adding that PCCW had no plans to establish new channels at this  time.

He also said the company  would continue carrying Asia Television's 24-hour News Channel until the contract expired next year.

Market estimates put the annual operating costs for a 24-hour news channel at  $50 million to $100 million.

'Despite the company investing in content production, losses for Now TV have narrowed over last year,' an  analyst said, adding that the company was likely to  break even in 2007.



Now business channel eyes viewers in China