CCCI Initiates IP TV and IP Telephony Joint Venture Agreement
CCCI Initiates IP TV and IP Telephony Joint Venture Agreement
Joint Venture Structured to Reach Additional 1.1 Million Subscribers
BEIJING April 20 /Xinhua-PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (BULLETIN BOARD: CCCI) , a leading China-based cable TV company is pleased to announce they have entered into an additional joint venture between their part-owned company Beijing Jin Zhi Cheng ShangMao Limited Liability Corp. and Zhong Dian Tong (Beijing) Digital TV Development Co. Ltd, the second largest company selling cable modem and head-end servers in China. This joint venture will allow CCCI to reach an additional 1.1 million cable TV subscribers, crossing over 4 Chinese provinces. Under this agreement, CCCI will use these provinces as a pilot launch and will replicate its services to their own provinces over the coming three years.
Services which will be developed and provided are:
-- Basic Service: Subscribers will be able to connect to the broadband internet via Cable TV (HFC) backbone network. Under this subscription, charges will apply in the form of recurring fees, which can be paid monthly, semi-annually, or annually. -- Value Added Services: Subscribers can receive IP TV and IP Telephony (VOIP) through the broadband internet network. The broadband internet network will operate through the cable TV (HFC) backbone.
China Cable Communication's joint venture agreement will be valid for one year. After the one year market development trial period, both parties involved will have the option of executing a 30 year joint venture agreement. If the parties choose not to enter into an expanded business contract, the current agreement will continue to be valid in the cities that have entered into a three-way joint venture agreement.
Gareth Tang President and CFO of CCCI stated, "We are excited about the direction in which our company is headed. We've identified a large, untapped cable TV market in China and will continue to create joint ventures, improve our services, and expand our subscriber base to meet those needs." Mr. Tang continued, "We are dedicated to strategically building our company for long- term growth, and as cable technology enters into new provinces, we will be in the forefront of providing our services.
About China Cable and Communication
China Cable and Communication, Inc. is a China-based cable TV company. Through its British Virgin Island subsidiary, the Company is the first foreign company to own and operate a cable television network in China.
Located 85 miles south of Beijing, the network currently offers 39 channels within the Baoding city limits and eight additional channels to outer areas in the Baoding metropolitan area. It transmits in both analog and digital over its fiber optic network and through 22 substations. With its fiber optic network, Baoding network is capable of transmitting 37 analog television programs, six digital signals and one FM music program. In addition to its cable television transmission services, Baoding network offers Internet access and value added services, such as broadband Internet access and on-demand services through its proprietary set-top boxes.
China Cable and Communication is well positioned as a foreign investor approved by The State Administration of Radio, Film and Television ("SARFT"), China's national regulatory authority for the broadcasting industry, to own interests in and provide operational management support to cable television networks in the People's Republic of China (PRC). The SARFT approval together with the trading of CCCI's common stock in the US, provide CCCI with a favorable advantage in access to foreign capital. China Cable and Communication, Inc. trades in the United States, under the ticker symbol CCCI, in order to provide U.S. investors with the opportunity to invest in a company that owns interests in a PRC cable television network.
For additional information please contact Investor Relations at (973) 351- 3868 or visit the website at http://www.chinacable.us/ .
Safe Harbor Act Notice
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Some of these include, but are not limited to, our availability of capital, political occurrences and events in China, the terms of our 8% convertible preferred stock, operations of the Baoding joint venture, demand for the products of the Baoding joint venture, the economy of China, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks described in other documents the Company files from time to time with the Securities and Exchange Commission, including Amendment No. 1 to the Form SB-2 registration statement filed with the Securities and Exchange Commission on December 8, 2003, the Annual Report on Form 10-KSB for the fiscal year ended December 31, 2003, as well as the Quarterly Reports and Current Reports on Form 8-K by the Company.
Contact Information:
Stephen Taylor, Investor Relations, China Cable and Communication, Inc. Tel: +1-973-351-3868 Email: STEPHTAYL9@AOL.COM
Source: China Cable and Communication, Inc.
CONTACT: Stephen Taylor, Investor Relations of China Cable and Communication, Inc., +1-973-351-3868, or stephtayl9@aol.com
Web site: http://www.chinacable.us/
------- Profile: Ent
0 Comments:
Post a Comment
<< Home