As a rapidly expanding business, PCCW OTT aims to increase its penetration within the existing markets where it has made significant inroads, as well as to expand its footprint in other high-growth markets, PCCW Media added. PCCW OTT engages in the provision of OTT (over-the-top) Internet media and entertainment services in 24 markets globally, including video-streaming services under the Viu and Vuclip brands, as well as a music-streaming service under the MOOV brand. China-based Hony Capital, Taiwan-based Foxconn Ventures and Singapore’s Temasek will together own about 18 per cent of the enlarged issued share capital of PCCW OTT for a total consideration of US$110 million (Bt3.65 billion). PCCW Media will remain as the controlling shareholder of PCCW OTT. Vuclip, which joined the PCCW family in May 2015, provides Web-based and short-form content video services under the Vuclip” brand in 19 markets, including India, Southeast Asia, the Middle East, Africa and other emerging markets.

Source: The Nation Bangkok August 15, 2017 09:45 UTC