STAR TV
Richard Li first became interested in the TMT space in 1989 when he foresaw the opportunity for the creative development of information and home entertainment services in Asia and set-up STAR TV, Asia's first satellite-delivered cable-TV service. By 1993 STAR TV had a viewer base of 45 million. In 1993, Richard Li sold STAR TV to Rupert Murdoch's News Corporation in 2 tranches for around US$1.0 billion, achieving a return of 9x over 3 years, and went on to form PCG.