I-Cable is said to be investing HK$50m in launching the three channels, two of its own plus the Yes TV-owned All Sports Network, which are launching in time for the start of the new European football season and the climax of golf’s US PGA Tour.
I-Cable reported a net profit of HK$5m for the first half of the year, an 81-per-cent drop year on year but a recovery on the second half of 2008, when the group made a loss of HK$137m. It said that the first half 2009 results were a “more direct reflection of the current state of the business”.
The group said that a new encryption system, combined with exclusive coverage of upcoming major sports events, including next year’s football World Cup, Asian Games and Vancouver Winter Olympics, and the Summer Olympics in London in 2012, would provide “fresh impetus to subscriber growth”.
Pay-TV subscriber numbers rose three per cent (30,000) in the six months to June to reach 947,000. Voice subscribers increased marginally and broadband subscribers dropped 7,000 to 260,000.