CONFIDENTIAL
458
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M(88)37
A394
FOREIGN OWNERSHIP OF THE
CABLE TELEVISION BROADCASTER
(ASIB/I 1/1243C(88) Pt.4)
The Council considered memorandum XCC(88)127.
The Council ADVISED and the Governor ORDERED :
(a) that for the CTV broadcast
licensee
the
aggregate
holding of individuals or
companies
not ordinarily
resident in Hong Kong should
be restricted to 49% of the
equity of a licensee (i.e.
the total
foreign ownership
in aggregate);
(b) that a brief note should be
produced
for
public
consumption explaining the
present CTV policy; and
(c) that as regards the payment
of royalties, to be based on
gross earnings (i.e. income
derived from the subscription
fee and advertising revenue),
tenderers should submit their
CONFIDENTIAL