PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: pennywise who started this subject	10/3/2001 11:58:44 PM
From: ms.smartest.person	of 2248

HK PCCW Closes AdSociety Web, Wireless Advertising Unit HONG KONG -- Hong Kong's dominant telecommunications provider Pacific Century CyberWorks Ltd. said Wednesday its advertising unit AdSociety has ceased operations. AdSociety sold online, broadband and wireless advertising and marketing services, PCCW said in a statement. It had 250 customers and more than 2,000 member Web sites, it said. The closure, effective Wednesday, resulted in the loss of about 100 jobs, a company spokeswoman said. "The decision to cease operations has been made in view of the current difficult and uncertain market conditions, which may adversely affect the performance of AdSociety," the company said. "The decision is also in line with PCCW's previously announced strategy of streamlining the non-core businesses of the group and concentrating on its core business of integrated telecommunications and related broadband services." -By John Ryan and Georgina Lee, Dow Jones Newswires; 852-2802-7002; john.ryan@dowjones.com interactive.wsj.com

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