Cuts 45, Denies Closure Reports

[ASIA] The Internet arm of one of Hong Kong’s most popular broadcasters has cut staff and will discontinue updating its own news feeds, Chinese-language news reports said Friday.

Although the site will still feature streaming news reports from its parent, television network TVB, will no longer produce its own news, reported Friday.

The company said it is laying off 45 employees immediately, representing 45 percent of the site’s staff. However, said in a statement that any reports that the online unit would close entirely were “absolutely untrue.”

“ is fully committed to developing both its Hong Kong and China portals in order to capitalize on the revenue opportunities in the Internet media sector through having a joint presence in Hong Kong and China,” the company said. joins the South China Morning Post and Next Media as online arms of major Hong Kong news outlets that have cut staff. Next Media’s online unit ceased operations in November 1, 2000.

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