A joint pay-TV and internet venture established only last November between Cable & Wireless HKT and Star TV has been terminated by mutual agreement following major disagreement over costs. But despite the abrupt severance, the duo insist: “We have come to a mutual and amicable decision to part ways".
The multimedia venture is 60%-owned by Cable & Wireless Communications’ subsidiary HKT and 40% by Star TV, controlled by Rupert Murdoch’s News Corp. Using Star TV's content and HKT's broadband network, the partnership aimed to provide high-speed internet access, video-on-demand plus fifty pay-TV channels.
Locally, few were surprised at the decision after Star TV let it be known publicly last week that a break was imminent.
News source: Advertising Age - International Daily