Hong Kong – Telco City Telecom (HK) Ltd. announced it had submitted an application to the Broadcasting Authority for a license to provide free-to-air TV services. City Telecom said in a statement it would need a maximum cumulative investment at HK$210 million before reaching positive free cash flow. With plans to offer various informative and entertaining content including news & infotainment, children, youth, elderly, as well as arts & culture, the telco expects to provide coverage throughout the city by 2016. Hong Kong currently has two free-to-air television broadcasters: Television Broadcasts Limited (TVB) and unlisted smaller rival Asia Television Limited (ATV).