The Broadcasting Authority has concluded that PCCW Media had not contravened the cross-media ownership provisions under the law. However, additional safeguards should be put in place to ensure any possible cross-media ownership concerns will not arise in future.

PCCW and PCCW Media must report to the authority any changes to the structural and corporate relationship relating to their operations, and any changes related to the PCCW Trusts.

At an April 22 meeting, the authority considered the findings of its investigation into compliance with the cross-media ownership provisions under the Broadcasting Ordinance by entities in connection with PCCW Media, a domestic pay television programme service licensee, and the Economic Journal.

Based on the information gathered during the investigation and the legal advice received, the authority concluded that Richard Li was not exercising control of PCCW Media within the meaning of the ordinance. Based on the evidence collected, the authority concluded that PCCW Media had not contravened the cross-media ownership restrictions under the ordinance.

Probe launched

The authority announced on January 5 that it would launch a probe arising from the Mr Li's reported acquisition of shares in the Economic Journal in August 2006 and his statements towards the end of 2006 which appeared to raise possible cross-media ownership concerns.

During the investigation, the authority and its legal advisors thoroughly scrutinised a total of 36 submissions, including joint submissions provided by 49 firms and individuals. It also studied the minutes of the relevant boards and committees of PCCW and PCCW Media.