i-CABLE Communications (01097.HK): Invests US$4.5 Million in Korean Music Festival

NewTimeSpace · 2026/07/17 21:46 · By Zeyu Wu

NewTimeSpace News: i-CABLE Communications announced on 17 July that PHL, its indirectly wholly-owned subsidiary, entered into an investment agreement with OPG Group and individual guarantors to inject US$4.5 million (approximately HK$35.1 million) as financial investment into the Korean music festival hosted by OPG Group, with entitlement to guaranteed returns and profit distribution rights.

NewTimeSpace News: On 17 July 2026, i-CABLE Communications (01097.HK) issued an announcement stating that PHL, its indirectly wholly-owned subsidiary, signed an investment agreement with OPG HK, OPG US, OPG KR and individual guarantors. It will invest US$4.5 million (roughly HK$35.1 million) in the Electric Daisy Carnival Korea hosted by OPG Group, with the investment sum payable in three instalments.

PHL is granted exclusive rights to conduct on-site artist exclusive interviews and produce exclusive edited content for distribution via its OTT platform and free television channels, as well as priority negotiation rights for event merchandise, brand partnerships and licensing matters.

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