Magazine article Screen International

PCCW Media's Streaming Business Raises $110M from Hony, Foxconn, Temasek

Magazine article Screen International

PCCW Media's Streaming Business Raises $110M from Hony, Foxconn, Temasek

Article excerpt

The strategic investment will be used to strengthen the the Viu, Vuclip and MOOV brands.

Hong Kong-based PCCW Media has raised $110m in funding from Hony Capital, Foxconn Ventures and Temasek for its three pan-regional streaming brands.

The three blue chip investors are taking an 18% stake in PCCW International OTT, which houses the Viu, Vuclip and MOOV brands, while PCCW Media remains the controlling shareholder.

Hony Capital is a Chinese investment group, which is also an investor in STX Entertainment, while Foxconn is a Taiwanese electronics manufacturer and Temasek is Singapore’s sovereign wealth fund.

The strategic investment will be used to strengthen the three services’ content offerings, including original productions, as well as to deploy the latest video streaming and encoding technology. …

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