Hony, Foxconn, Temasek back PCCW’s OTT push

PCCW’s media unit secures IT help and mainland China connections in battle with cable cutters and pirates. Richard Li's company must also beat Netflix and Amazon to local language content.

Hong Kong-headquartered PCCW Media just secured a roster of heavyweight reinforcements for its regional rollout of the hot new media technology, OTT.

Private equity firm Hony Capital, Foxconn Ventures and Temasek are buying 18% of PCCW Media’s OTT business called Viu for $110 million in cash, according to a filing with the Hong Kong stock exchange on Thursday.

Each brings know-how and connections in mainland China as PCCW Media battles with competitors such as Netflix and Amazon’s Prime to source original content.

“It’s not about the capital,” said Janice Lee, managing director of PCCW Media, who is in charge of the...

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