Internet TV hits the rocks

NEWS Hong Kong telco Pacific Century Cyberworks has cancelled its contract with Trans World International's (TWI) internet content studios in London causing the loss of 400 jobs. The studios produced English language programmes the company's internet TV portal Network on the World. TWI will continue to provide sports programmes and online games for the service, but at a much reduced rate. According to the FT, PCCW was paying TWI £2m a month for studio-based programmes. It has now made a one-off payment of £99.38m for the whole contract. A core group will be retained at the Chiswick-based studios to develop online games services.