Word: pccw
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...Five years later, Li's vision?or at least a less grandiose reincarnation of it?may be validated after all. Sixteen months ago, his phone company (rebranded PCCW after the purchase) started offering Hong Kong residents who subscribe to its broadband Internet access a slate of pay-TV channels delivered to their TV sets over the phone lines. Called NOW Broadband TV, the service has made surprisingly rapid inroads, reaching more than 420,000 households?35% of the Hong Kong pay-TV market?in its first year of operation. It took I Cable, Hong Kong's sole cable-TV provider...
...RESIGNED. RICHARD LI, 36; as chief executive officer of Pacific Century CyberWorks Ltd. (PCCW); in Hong Kong. Li will be replaced by Jack So, currently chairman of Hong Kong's subway operator MTR Corp. PCCW acquired the city's former phone monopoly Cable & Wireless HKT for $28.5 billion in 2000. Li, son of Hong Kong's richest man, Li Ka-shing, will remain chairman of PCCW, which has debts of $4 billion...
...partners remain in short supply. While there are rumors that Tom.com hopes to hook up with one of the big foreign broadcasters?Phoenix, STAR, or Sun TV, a network run by Hong Kong-based ATV?for a mainland move, there is little evidence that any of them are biting. PCCW, the Hong Kong telecommunications and new media company owned by Li's son Richard, holds a 4.5% stake in Tom.com, and there is always the possibility that the two could merge. After all, it was Richard (with lots of help from his father) who formed STAR in 1990 and sold...
...M.I.T. Laboratory for Computer Science, believes computers should adopt human-like qualities. They should understand our banter, joke with us, read us e-mails and, if an experiment under way in Hong Kong is any example, do a whole lot more. One2Free, a cellular service run by telecoms firm PCCW, has created a game world populated by four virtual girls: Alice, Angel, Ron and Veron. It's kind of a Tamogotchi for the home-alone-on-a-Friday-night crowd: through the cell phone, you sweet-talk the cybervixens into dates or out of their clothes. Since the service...
...cash for Hong Kong Telecom. What nobody realized then was that this khaki-clad scion who embodied all the Web concepts people used to act like they believed in?does anyone remember Metcalf's Law??would become the poster child for the New Economy's crash and burn. At PCCW's first announcement of its consolidated earnings last week, the company revealed that it wrote down $22 billion dollars in goodwill and was now, technically, insolvent. Li, who built his reputation on nouveau wheeling and dealing, has been reduced to that most mundane of Ancien Economy worries?squeezing cash...