Hunt for cash to keep ailing Hong Kong cable TV company on air
NPC deputy reveals ‘i-Cable management is definitely exploring every solution to handle this’
The management of ailing i-Cable Communications is exploring every possible way to keep the broadcaster on air, independent non-executive director Herman Hu Shao-ming said, lamenting that the pay-television licence was not obtained easily.
Hu made the remarks in Beijing on Sunday after i-Cable owner Wharf (Holdings) said that it could not find a buyer for the broadcaster. Funding for i-Cable, which reported a HK$313 million loss last year, would not be extended upon expiry, Wharf said.
“The management is definitely exploring every solution to handle this,” Hu, a Hong Kong deputy to the National People’s Congress, said on the sidelines of the NPC meeting.
He said management was looking for capital to keep the broadcaster on air, adding: “I believe this is everyone’s wish.”
The management is definitely exploring every solution to handle this
Hu said financial statements received each month by the board showed that additional funds needed to be pumped into the broadcaster to keep it running. Failure to obtain such funding could lead to its closure.