China Cable & Communication Achieves Board Majority Of JV

By TechSecurityChina.com Editor
January 06, 2004

China Cable and Communication, Inc., a China-based cable TV company, today announced it has achieved a majority of the Board of Director seats of its joint venture with Baoding Pascali Cable Television Network. CCCI executives have also taken key management positions at the Joint Venture cable system, including Chief Financial Officer and General Manager.

Under the new structure, the Joint Venture has increased the number of Board of Director seats held by CCCI to five out of a total nine Directors. CCCI previously held two out of a total six Director seats. In addition, Gareth Tang, President and Director of China Cable and Communication, has been named Chief Financial Officer of the Baoding Joint Venture. Hong-Tao Li, who serves as Chief Operating Officer and VP of Project Development and a Director of CCCI, has been appointed to the added role of General Manager of the Joint Venture. Joint venture partner Boading Multimedia continues to hold 48%, and the Baoding Pascali Cable Television Network Workers Stockholding Association owns the remaining 3%, of the Joint Venture.

The Baoding Pascali Cable Television Network has grown to include more than 200,000 subscribers, which are charged approximately US$1.60 per month for basic cable access. The Joint Venture intends to target a portion of the approximately 3 million households and numerous business establishments in this geographic region as a source of future growth.

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