| PHASE I - Hubei Chutian Broadcasting Acquisition |
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Completed Phase One Acquisition of Hubei Chutian Network |
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Announced framework agreement on May 12,
2008 to acquire a 60% economic interest in
Hubei Chutian Video & Information Network.
Joint venture with local Hubei SOE (similar to
Binzhou Broadcasting) |
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Acquisition will add 1.6 million subscribers in
two phases – each approximately 800,00 subscribers |
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When phase 2 is complete,
Cablecom will have in
excess of 2.0 million subscribers |
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Expands Cablecom’s footprint
beyond Shandong Province |
| Hubei Overview |
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Currently serving 6.5 million cable TV households with approximately 12.7% year-over-year growth
(No. 6 in China) |
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2.4 million rural CATV households (+16.7%, No. 8 in China) |
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Digital TV households: 430,000 and more than 245% year-over-year (No. 24 in China) |
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Penetration rate based on CATV households of approximately 6.61% |
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60 million in population |
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GDP is No. 12 in China |
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Annual disposable income per capita estimated at $1,410 |
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Affiliated cities: 17 (not the same as the targets) |
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Affiliated counties: 63 |
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ARPU: approximately $1.60/month |
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Digital cable conversion estimated to increase ARPU to $4.00 per month |
China Cablecom acquired a 60 percent economic interest in Hubei Chutian Video & Information Network ("Hubei Broadcasting") on June 18, 2008. The consummation of phase one, representing 17 cities, of the Hubei Broadcasting acquisition secures over 800,000 additional paying subscribers for China Cablecom securing total paying subscribers of 1.2 million.
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