SATELLITE & CABLE: CTN buy powers Taiwan's CTV

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