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CTI stays confident to gain profit within five years

出自香港新聞網 - 樹仁新傳系學生實習習作

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City Telecom (HK) Ltd Chairman Ricky Wong Wai-kay predicted the company will absorb losses in the first five years to operate its free-television venture.


Wong said the company will plans for the worst, but he expected the losses will no more than 2 billion to 2.5 billion.Unlike free-TV, broadband TV is a “buy content and sell content”[what does that mean?] business. “I am not going to bet 2 billion on Barclays Premier League channel, I am spending it to create our own products.”He said.


With an experience of running broadband TV, Wong realized that TV business is long-term investment. “Broadband TV was absorbed losses 3 billion in the first seven years, 300 million to 500 million per years,”He said “That’s why I know the rule: losses at the beginning, profit in the end.”


--095114 2012年2月21日 (二) 23:38 (UTC)

[Article is a bit light and lacks good flow, but it does have a concluding paragraph that adresses the headline.]

[Grade: B-]
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