The Chief Executive in Council agreed to grant a 12-year domestic free television programme service licence to Hong Kong Television Entertainment Company today.
The licence will take immediate effect and the company will launch a round-the-clock integrated Cantonese channel within 12 months and a 16-hour English channel within 24 months.
Both channels will be transmitted via fixed network and broadcasted in digital format.
People using an in-building coaxial cable system can watch the channels by using a digital TV decoder or a digital TV.
The company will need to invest $2.727 billion in the first 10 years as pledged. It will also setup a $300 million fund to develop and purchase independent local TV programmes.
Mr So said he hopes the company’s entry into the free TV market will provide more quality programme choices for viewers.
Communications Authority Chairman Ambrose Ho said the body has contacted the Hong Kong Television Entertainment Company since it gained the approval-in-principle on October 2013.
The authority recommended to the Executive Council to grant a licence to the company in January.
