Star/HKT Digital TV Venture On Target For Launch This Year,
James Murdoch, executive vice-president of News Corporation, and
co-chairman of Star TV, said on Sunday that Star would launch
a digital TV service from Hong Kong in partnership with Hong Kong
Telephone (HKT) later in 2000. News Corp is rumoured
to be in discussions with Singapore Telephone over a possible
bid for Hong Kong Telephone aimed at trumping CyberWorks' agreement
with Cable and Wireless to take over HKT, but James Murdoch said
that the digital TV plan would proceed regardless of the fate
of HKT. It was of course James's father Rupert who bought Star
from CyberWorks in the first place. Murdoch said that
Star was very committed to the project, with 700 people already
working towards it. The project would provide interactive home
entertainment, digital television and Internet services across
the region. Star will have 40%
of the joint venture, with HKT owning the majority 60%. Murdoch said that
revenue from Star's broadcast-based business has grown at 30 to
40% in revenue at its core business over the past few years, and
would break even next year. It is thought that
Star TV is a key component of News Corp's planned US flotation
of its digital satellite assets. "Our sense is we are bullish
enough about doing business in Asia," Mr James Murdoch said,
"particularly focusing on Greater China; we think it would
be a disservice to our shareholders if we don't heavily invest
now." .
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