China Cable & Communication in Discussions to Add "Video On Demand" Service Offering
MONDAY , NOVEMBER 22, 2004 12:01 AM
Nov 22, 2004 /PRNewswire via COMTEX/ --
Beijing-based Interactive Media Company to Provide Content
BEIJING, Nov. 22 /Xinhua-PRNewswire-FirstCall/ -- China Cable and Communication,
Inc. (OTCBB: CCCI), a leading China-based cable TV company, today announced it
is in discussions with an unnamed interactive media content provider to form a
cooperative joint venture company to offer the Video On Demand (VOD) services to
CCCL's Baoding TV network and other cable TV networks in China.
Gareth Tang, President of China Cable and Communication said, "We have been in
the process of upgrading our current service offering to include Video On Demand
services, and have reached the point where we are now in serious discussions
with a very reputable content provider." Mr. Tang continued, "Not only our
Baoding TV network, but also other cable TV networks in China have demanded such
interactive media contents on their own networks. We have confidence that the
joint venture will become one of the largest interactive media content provider
to China cable TV network operators."
The Chinese government recently formalized laws that allow international media
companies to form television-production joint ventures with Chinese media firms.
This move opens up China's burgeoning media sector but restricts the
introduction of foreign brand names.
China's central government has pressed broadcasters to move all viewers to a
digital-broadcast pay-TV standard by 2015. The switch to digital will open more
channels to consumers, but broadcasters will need better content to lure those
consumers to pay digital-subscription fees.
Mr. Tang continued, "We expect these new legal reforms to result in many new
content providers approaching us. We are a viable cable content distributor,
with a growing base of subscribers. We won't be the only company to benefit from
these new laws. Expect choices in programming content in China to grow quickly,
which will stimulate growth and new services within our industry, which will
result in our subscribers having a much more comprehensive choice in available
programming packages."
About China Cable and Communication:
China Cable and Communication, Inc. is a China-based cable TV company. Through
its British Virgin Island subsidiary, the Company is the first foreign company
to own and operate a cable television network in China.
Located 85 miles south of Beijing, the network currently offers 39 channels
within the Baoding city limits and eight additional channels to outer areas in
the Baoding metropolitan area. It transmits in both analog and digital over its
fiber optic network and through 22 substations. With its fiber optic network,
Baoding network is capable of transmitting 37 analog television programs, six
digital signals and one FM music program. In addition to its cable television
transmission services, Baoding network offers Internet access and value added
services, such as broadband Internet access and on-demand services through its
proprietary set-top boxes.
China Cable and Communication is well positioned as a foreign investor approved
by The State Administration of Radio, Film and Television ("SARFT"), China's
national regulatory authority for the broadcasting industry, to own interests in
and provide operational management support to cable television networks in the
People's Republic of China (PRC). The SARFT approval together with the trading
of CCCI's common stock in the US, provide CCCI with a favorable advantage in
access to foreign capital. China Cable and Communication, Inc. trades in the
United States, under the ticker symbol CCCI, in order to provide U.S. investors
with the opportunity to invest in a company that owns interests in a PRC cable
television network. For more information, please visit chinacable.us
The forward-looking statements contained herein are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements. Some of these include, but are not
limited to, our availability of capital, political occurrences and events in
China, the terms of our 8% convertible preferred stock, operations of the
Baoding joint venture, demand for the products of the Baoding joint venture, the
economy of China, and other factors. Readers are cautioned not to place undue
reliance on these forward-looking statements, which reflect management's
analysis only as of the date hereof. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof. Readers should carefully review
the risks described in other documents the Company files from time to time with
the Securities and Exchange Commission, including Amendment No. 1 to the Form
SB-2 registration statement filed with the Securities and Exchange Commission on
December 8, 2003, the Annual Report on Form 10-KSB for the fiscal year ended
December 31, 2003, as well as the Quarterly Reports and Current Reports on Form
8-K by the Company.
Contact:
Ray Kwan
China Cable and Communication, Inc.
Tel: +86-10-8259-9426
SOURCE China Cable and Communication, Inc. |
