China Cable & Communication in Discussions to Add "Video On Demand" Service Offering
November 22 2004 - 12:01AM
PR Newswire (US)
China Cable & Communication in Discussions to Add "Video On
Demand" Service Offering 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 http://www.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 DATASOURCE: China Cable
and Communication, Inc. CONTACT: Ray Kwan of China Cable and
Communication, +86-10-8259-9426 Web Site: http://www.chinacable.us/
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