SATELLITE & CABLE: CTN buy powers Taiwan's CTV

CTV Satellite Communications, a joint venture between the Power Multimedia Network and Chinese Television in Taiwan, has acquired full ownership of Chinese Television Network (CTN). CTV sealed the acquisition deal with the Koos Group, which owned the network's two Chinese satellite channels: CTN and Zhong Tian. The Koos Group is a major business conglomerate in Taiwan and it is also one of the biggest cable system owners on the island. The acquisition will not affect the CTN Channel brand name although its Hong Kong office will be operated under Power TV. "We consider the overseas market to be a high value business prospect and we're keen to develop the markets of Asia and North America," said CTV general manager Simon Chiang. Founded in 1994 by controversial Hong Kong media tycoon Yu Pun Hoi, CTN was the first 24-hour Chinese language satellite network. In 1997, the Koos Group bought over CTN from Mr Yu, whose media business vanished when Ming Pao was sold. Both CTN and Ming Pao were once major assets under Mr Yu's CIM vehicle. CTN's new owner, Power Multimedia is a rising media group in Taiwan. The group owns radio, newspaper and Internet properties. Its media titles include Power News, Power Radio, Power Links, Power Money and Power Learning. Power also plans to set up an up-to-the-minute multimedia network to reach not just the Taiwan audience, but the global Chinese-speaking population. CTV has formed a satellite TV platform, Power TV, in Taiwan with the aim of serving Taiwan and overseas Chinese audiences. Although CTN is owned by a Taiwan-based company, the channel is uplinked from Hong Kong to viewers in North America, Asia, Australia and New Zealand. "We promise to continue to invest in both the hardware and software required to produce even better quality TV programmes to serve the needs of global Chinese viewers," said Mr Chiang. Distributed to Asia, Australia and North America through a satellite and direct-to-home platform, CTN features a mixture of news and entertainment programmes.

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