The Hong Kong Government announced that it has granted two new free TV licenses, announcing that Wonderful TV, a subsidiary of Cable Broadband (01097-HK), and Hong Kong Television Entertainment, a subsidiary of PCCW (00008-HK), have also received a local free TV license.

Goldman Sachs believes that it is a surprise that Hong Kong TV (1137.HK) has not been approved, but the Hong Kong government has not ruled out the possibility of further distribution in the future; for television broadcasting (0511.HK), the short-term impact is limited, while the middle line faces market share pressure. The long-term line still needs to depend on the quality of the programs of each operator and maintain the neutrality of television broadcasting, with a target of HK$55.