TOKYO--(BUSINESS WIRE)--Aug. 22, 2000--Pacific Century CyberWorks (``PCCW'' SEHK: 0008.HK) announced today it will work with Sony PCL Inc. to build a JPY 4.2 billion (US$40 million) studio in Tokyo, aiming to bring its NOW (Network of the World) service to Japan by mid-2001.
Pacific Century CyberWorks-Japan (PCCW Japan), a wholly owned subsidiary of PCCW, will, subject to signing of legally binding agreements, form a strategic business alliance with Sony PCL, a wholly owned subsidiary of Sony Corporation. Sony PCL will provide leading-edge audio and visual hardware and technical support in the construction and development of PCCW-Japan's NOW studio, expected to begin later this year.
Sony PCL will also assist PCCW-Japan with the recruitment and training of more than 100 new employees with experience in TV program production, website design and other related areas to operate the studio. Costs of providing such support and assistance will be agreed with Sony PCL.
``The construction of a cutting-edge studio in Tokyo deepens our long-term commitment to the Japanese market,'' said Todd Bonner of PCCW-Japan. ``This is a key part of both our Japan strategy and PCCW's global strategy to drive broadband content distribution to consumers around the globe.''
Rolled out in June 2000 from its London studio, NOW is the world's first truly converged TV-web service. NOW delivers two features: a linear TV experience and streaming video synchronized to web content. With NOW, TV viewer and Internet users become ``viewsers,'' who can drill down into vortals (vertical portals) for in-depth content, including video clips, graphics, animation, text and web links.
The Tokyo studio will plan, develop and edit content for NOW Japan. It will also edit and translate popular Japanese content into multiple languages for export via NOW's global network.
``The new studio demonstrates PCCW's commitment to the development of broadband Internet in Japan,'' said Shiro Koriyama, Chairman of Sony PCL. ``We are delighted to be contributing to this and are looking forward to working with PCCW-Japan on this project.''
Additional NOW studios are planned for New York and Greater China.
About Pacific Century CyberWorks (PCCW)
Pacific Century CyberWorks is the Hong Kong-listed technology flagship of the Pacific Century Group. PCCW is one of the world's biggest Internet companies, and is the largest Internet company in Asia by market capitalisation.
Focused on global growth, PCCW is developing a full spectrum of broadband Internet capabilities, and is aiming to become the premiere provider of telecommunications, digital technology and new media services. With the August 2000 Cable & Wireless HKT merger, the Company has developed an innovative 8 X 3 business model that runs eight business units within three operating sectors:
Telecommunications Services - Principally comprising telecommunications and other value-added services based on the Company's fibre-optic network in Hong Kong.
Global Communications Services - Fast-expanding mobility and global connectivity services.
Net Enterprises - Broadband B2C (Network of the World TV-web service), B2B business services, Data Center services and CyberWorks Ventures, which invests in synergistic core businesses.
About Pacific Century CyberWorks Japan Ltd.
PCCW-Japan was established in January 2000 as a subsidiary of PCCW, and is driving broadband Internet content, infrastructure and distribution throughout the country via alliances and investments in related content providers, TV companies, advertising agencies, and network and cable TV companies. PCCW-Japan will finalize its acquisition of Jaleco Corporation in November 2000.
About Sony PCL Inc
Sony PCL Inc is a 100% owned subsidiary of Sony Corporation. It is a leading supplier of technical services to the film, video, television and electronic publishing industries in Japan. They have a long working experience with a wide range of media, such as film, still photography, tape, cassette, optical disc, etc.
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