PARIS, FRANCE -- (Marketwired) -- CMMB Vision Holdings of Hong Kong announced today that it has partnered with an affiliated U.S.-based company and entered into a memorandum of understanding (MOU) to acquire capacity on two new satellites that will provide mobile multimedia services to China and other Asian markets.
The U.S. affiliate, New York Satellite Holdings, LLC (NYSH), which is a subsidiary of New York Broadband II, recently acquired the AsiaStar satellite at the 105 degrees East orbital slot, and its associated L-band spectrum rights. An RFI has been issued to satellite manufacturers to build the first of two replacement satellites, which will be contracted within 2014 and launched by early 2017. The second satellite, to be co-located with the first one, will be ordered before the end of 2015.
The satellites will be equipped with next generation technologies such as high-power, interactive and broadcast-unicast convergence to render unprecedented mobile multimedia and Internet services directly to all mobile users never available before.
The Company has also announced that it has entered into an MOU with a leading Chinese State-level media group to develop and operate satellite-based mobile multimedia services nationwide in China.
The founder and president of CMMB Vision is Charles (Chau-Chi) Wong, an American-educated Hong Kong entrepreneur who will facilitate funding for the satellite platform.
The company's chief technology officer is Dr. Hui Liu, the American scientist who developed the China Mobile Multimedia Broadcast (CMMB) standard that has been officially adopted by Chinese regulators for mobile hand-held television.
"CMMB is the emerging global standard for next generation mobile video and broadcast services because it allows for faster and more efficient delivery of multimedia and Internet data," said Wong. "With the capacity from these new satellites, our users will be able to enjoy unlimited mobile video viewing and data downloads anytime, anywhere at a fraction of current mobile data costs."
Space Partnership International LLC of Bethesda, MD, has been engaged to assist NYSH with matters related to the project planning, procurement of satellites and launch services as well as insurance, service development and regulatory activities.
About CMMB Vision Holdings
CMMB Vision is a next-generation mobile multimedia service provider and a principal developer of leading mobile technologies as well as broadcast-unicast convergence technology. The Company is based in Hong Kong and listed at the Hong Kong Stock Exchange.
About New York Satellite Holdings, LLC
New York Satellite Holdings, LLC (NYSH) is majority-owned and controlled by New York Broadband II, LLC (NYB-II). A related company, New York Broadband (NYB), owns and operates 12 UHF television stations in the United States. NYSH is based in Denver, CO.