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| Pacific Century CyberWorks and AdSociety form Joint Venture, Creates the First Pan-Asian Broadband Advertising, Marketing & Sales Network |
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| HONG KONG, August 29, 2000
- Pacific Century CyberWorks ("PCCW" SEHK: 0008.HK) and AdSociety announced today a new joint venture called AdSociety - the first pan-Asian broadband advertising, marketing and sales network.
AdSociety is focused on providing broadband advertising, marketing and sales services to PCCW's innovative Network of the World (NOW), the first-ever truly synchronized TV-web service, as well as other PCCW-related companies. Headquartered in Hong Kong and majority-owned by PCCW, AdSociety has presence in Singapore, Sydney, Taipei and Tokyo. It is aggressively rolling out its global network and plans to further expand its presence in Beijing, Seoul and Shanghai before the end of 2000 as well as London and New York in 2001. In the meantime, AdSociety will continue to leverage on PCCW's global presence. AdSociety currently employs about 30 media professionals with a proven track record in advertising, marketing and sales for broadcast television and the Internet. It plans to expand the team to more than 100 before the end of 2000. "The AdSociety management team offer us a wealth of advertising sales experience in satellite broadcast television and the Internet industry," said Richard Li, Chairman and Chief Executive of PCCW. "We have a team who has a successful track record in selling new media concepts both in the early days of satellite television and the Internet in Asia. The venture will help us to achieve success in selling the TV-Broadband Internet service to advertisers and their advertising agencies in Asia and the rest of the world." AdSociety's management includes founder and CEO, Patrick Jonathon Wong, who has more than 10 years of start-up and operational experience with a wide range of global and regional media, broadcasting, telecommunications, satellite and Internet ventures. Mr. Wong was one of the original sales and marketing pioneers of the Star TV network and most recently was the managing director of 24/7 Media Asia, where he successfully established the company as the first and largest pan-Asian interactive advertising sales company. "Broadband advertising, marketing and sales stands to be a winner with PCCW's NOW, which has a global reach and is becoming increasingly well known," said Mr. Wong. "NOW broadband service is the leader in the race to provide content-rich converged TV-web material. We are extremely excited to be partnering with PCCW, a company armed a consistent vision to create new and engaging media opportunities for businesses in Asia and across the world." Rolled out in June 2000 from its London studio, NOW is the world's first truly converged TV-web service, combining the experience of watching TV and surfing the Internet. NOW features fresh television programming and in-depth web content synchronized to each other. At www.NOW.com, TV viewers and Internet users converge to become "viewsers," who watch TV while also cruising the website for related video clips, graphics, animation, text and web links. Vertical portals -- at NOW known as "vortals" -- capture the "viewser" concept, covering sports, music, the environment, online games, and the entertainment industry. PCCW recently announced that a second NOW studio will be built in Japan by next year to coincide with the planned rollout of the NOW-Japan service. As well, PCCW's recently announced in-principle agreements with Telstra Corporation means NOW is to be distributed in Australia, accessed initially via a button prominently displayed on the telstra.com home page. Telstra has also agreed to distribute NOW via Telstra's HFC, xDSL, and satellite high-speed Internet services. In Hong Kong, NOW is showing on Hong Kong Cable channel as of August 28. "AdSociety is well positioned to meet the global businesses' challenges to engage new and effective forms of media and marketing opportunities," said Mr. Wong. "We have already received tremendous support from the industries who are keen to capitalize on the rapidly growing broadband opportunitiesc to reach their targeted customers." About AdSociety AdSociety, a majority-owned joint venture of Pacific Century CyberWorks (PCCW), is the first pan-Asian broadband advertising, marketing and sales network. Headquartered in Hong Kong, AdSociety has presence in Singapore, Sydney, Taipei and Tokyo. It is aggressively rolling out its global network and plans to further expand its presence in Beijing, Seoul and Shanghai before the end of 2000 as well as London and New York in 2001. In the meantime, AdSociety will continue to leverage on PCCW's global presence. AdSociety currently employs about 30 media professionals with a proven track record in advertising, sales and marketing for broadcast television and the Internet. It plans to expand the team to more than 100 before the end of 2000. More information on AdSociety can be found in www.adsociety.com. About Pacific Century CyberWorks 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. PCCW is developing a full spectrum of broadband Internet capabilities, and is aiming to become a premier provider of telecommunications, digital technology and new media services. With the August 2000 PCCW-Cable & Wireless HKT merger, PCCW has developed an innovative 8 X 3 business model that runs eight business units within three operating sectors:
For further information, please contact: Sandra Low AdSociety Limited Tel: +852-2509 2228 Email: Sandra.low@adsociety.com Parker Robinson Pacific Century CyberWorks Tel: +852-2514 8649 Email: parker@pcg-group.com Nor E. Badron Ogilvy Public Relations Worldwide (for AdSociety) Tel: +852-2884-8570 Email: nor.badron@ogilvy.com |
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