Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: ms.smartest.person who wrote (4102)	12/11/2000 12:23:22 AM
From: ms.smartest.person	Read Replies (1) of 4541

Australia's Telstra: No Pay TV Obligation To Hong Kong PCCW Sunday December 10 4:13pm Source: Dow Jones SYDNEY -(Dow Jones)- Australia's dominant telecommunications company Telstra Corp. (TLS) said Monday that although it has signed an agreement with Pacific Century Cyberworks Ltd. (H.PCW) to keep it informed about pay television company Foxtel, it has no obligations to Richard Li's Hong Kong-based company in regard to pay-television services. Telstra has agreed to keep its Asian mobile and Internet infrastructure partner informed about new technologies to be used by Foxtel, including the introduction of digital set-top boxes and what may be contained in the boxes to make them compatible with PCCW's Network of the World, or NOW, Internet and television service. This could potentially pitch Telstra against another of Foxtel's major shareholders News Corp. (NWS) because Rupert Murdoch's Asian pay television Star TV service is a competitor of the NOW services. Foxtel, which is Australia's largest pay television company, is 50%-owned by Telstra, and 25%-owned by each of News Corp. and Publishing & Broadcasting Ltd. (A.PUB). But Telstra has made it clear that existing exclusive arrangements between Foxtel's three partners are intact and will be observed by Telstra and that Telstra has no deal with PCCW in the pay television field. "Telstra has no obligation to PCCW in relation to pay television. PCCW has no rights in relation to set-top boxes," a Telstra spokesman told Dow Jones Newswires. Telstra will continue to operate and respect existing exclusive arrangements between Foxtel's three owners, and its joint ventures with Richard Li's company won't affect the Australian pay television business, according to the spokesman. "Foxtel continues to operate on a range of exclusive agreements," he added. Around 2345 GMT, Telstra was up 12 cents at A$6.40 on relatively thin volume of 1.2 million shares. Telstra and other telecommunications and technology stocks have rallied in early trading in response to a 5.9% rise on Nasdaq on Friday. -By Graham Morgan, Dow Jones Newswires; 61-2-8235-2962; graham.morgan@dowjones.com (This story was originally published by Dow Jones Newswires) Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved work.com

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