12.2 Attainment of Milestones by Domestic Pay TV Licensees

Within the year, Galaxy achieved a number of milestone requirements stipulated in its domestic pay television programme service licence and performance bond. It fulfilled two milestones on the establishment of a playback centre and the installation of a satellite antenna at the new TV City in Tseung Kwan O and satisfactorily complied with four milestones by providing not fewer than 24 television channels, passing its service to not fewer than 150,000 premises and incurring not less than $150 million as cumulative capital expenditure for the provision of its service by the specified deadlines.

PCCW Media also met nine milestones within the year by providing not fewer than 15 television channels, passing its service to not fewer than 1,400,000 premises and incurring a cumulative capital expenditure of not fewer than $32 million for providing its service well in advance of the deadlines specified under its Licence and performance bond.