China Cablecom Announces Broadband Development Agreement With Hubei Unicom
11 Novembre 2009 - 2:15PM
PR Newswire (US)
SHANGHAI, Nov. 11 /PRNewswire-FirstCall/ -- China Cablecom
Holdings, Ltd. ("China Cablecom" or the "Company") (NASDAQ:CABL)
(NASDAQ:CABLW) (NASDAQ: CABLU), a joint-venture provider of cable
television services in the People's Republic of China (PRC),
announced a series of broadband development agreements between 7 of
its joint venture subsidiaries and Hubei Unicom, a provincial
subsidiary of China Unicom, for its broadband development network
in the Hubei province. The broadband development agreements are
follow-on executions of a strategic alliance framework agreement
between Hubei Unicom and Hubei General Radio & Television
Stations, the major shareholder of the Hubei SOE (Hubei Chutian
Radio & Television Information Network Co., Ltd.) which
occurred in early October. Pursuant to the agreement, both
companies will participate in developing broadband capabilities as
Hubei General Radio & Television Stations will contribute its
content sources to develop 3G mobile phone and internet services in
collaboration with Hubei Unicom. This agreement ensures unlimited
access to broadband bandwidth, significant enhancement of network
reliability, strong customer service platform and scalability of
connection services within the Hubei regions. As of today, 7 of the
Company's 23 cable networks, representing over half of Hubei's
total subscriber base, have secured such agreements. "We believe
that the timing of this partnership is exceptional as we continue
to grow and establish a solid footprint in the world's largest
broadband and television market by measure of subscribers.
Broadband services have created opportunities for the Company to
expand our service portfolio and contribute to our rapid ARPU
growth. We view this as a long-term partnership with one of the
most successful service providers in China," says Pu Yue, Chief
Executive Officer of China Cablecom Holdings. "As a result, we
believe that China Cablecom is receiving more favorable purchasing
power in broadband bandwidth on a wider scale and will be expected
to build efficiencies implemented by Hubei Unicom's customer
management, billing and service system for its broadband
customers." About China Cablecom China Cablecom is a joint-venture
provider of cable television services in the People's Republic of
China, operating in partnership with a local state-owned enterprise
("SOE") authorized by the PRC government to control the
distribution of cable TV services through the deployment of analog
and digital cable services. China Cablecom has consummated the
acquisition of a 55 percent economic interest in a cable network in
Hubei province with paying subscribers exceeding 1,100,000. The
Company originally acquired operating rights of the Binzhou
Broadcasting network in Binzhou, Shandong Province in September
2007 by entering into a series of asset purchase and services
agreements with a company organized by SOEs, owned directly or
indirectly by local branches of State Administration of Radio, Film
and Television in five different municipalities to serve as a
holding company of the relevant businesses. China Cablecom now
operates 28 cable networks with over 1.67 million paying
subscribers. China Cablecom's strategy is to replicate the
acquisitions by operating partnership models in other
municipalities and provinces in the PRC and then introducing
operating efficiencies and increasing service offerings in the
networks in which it operates. Safe Harbor Statement The matters
discussed in this press release contain "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements contained in this
presentation and in the Company's other written and oral reports
are based on current Company expectations and are subject to
numerous risks, uncertainties and assumptions, Any forward-looking
statements are not guarantees of future performance and actual
results of operations, financial condition and liquidity. The
forward-looking statements herein speak only as of the date stated
herein and might not occur or the actual results may differ
materially in light of these risks, uncertainties, and assumptions.
The Company undertakes no obligation and disclaims any obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise. You should carefully consider these factors, as well as
the additional risk factors outlined in the filings that the
Company makes with the U.S. Securities and Exchange Commission,
including the Annual Report on Form 20-F filed on July 15, 2009.
CONTACT: China Cablecom Holdings, Ltd. Debra Chen Phone:
917.499.8129 Email: DATASOURCE: China Cablecom Holdings, Ltd.
CONTACT: Debra Chen of China Cablecom Holdings, Ltd.,
+1-917-499-8129, Web Site: http://www.chinacablecom.net/
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