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Chloe.C

TVB purchases ATV's dramas and movies to lend a hand amid ATV's financial crisis

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Source: HK Channel

Translated by: Chloe.C @

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TVB purchases ATV's dramas and movies to lend a hand amid ATV's financial crisis

 

In recent months, Asia Television (ATV) has been facing a financial crisis, from delaying employees' salaries to being unable to pay their broadcast licensing fee. ATV has went through many different methods and sources to gather investments and help to avert disaster and solve their salary problem. However, the biggest crisis was when they needed to pay 17,000,000 HKD before February 18th for their broadcast license fee. The government allowed them to pay the fee in two installments. They were able to successfully pay the first installment before Chinese New Year. For the second installment, however, they only made the deadline 5 minutes before, paying off the remaining 7,000,000 HKD. It was revealed that the "white knights" were actually TVB and Fox Entertainment Group.

 

According to sources, earlier, TVB had bought ATV's classic dramas twice before: the first time, they bought 20,000 hours of ATV's martial arts dramas for 10 million HKD, approximately 80 dramas. Within those dramas included Nick Cheung and Donnie Yen's old ATV dramas, like "The Kung Fu Master" and "Fist of Fury", etc. The second time, TVB bought several of ATV's Cantonese movies for 1 million dollars, and established a "Cantonese Movie" channel on their paid network.

 

Afterwards, TVB lent out a hand once again, along with Fox Entertainment, and bought ATV's non-ancient dramas for 70 million HKD, including "The Good Old Days", "My Date with a Vampire" series, "Showbiz Tycoon" and "Flaming Brothers", etc. a total of 500 hours of dramas! TVB and Fox Entertainment now have exclusive overseas broadcast right for ATV dramas, but share the Hong Kong broadcast rights with ATV. ATV can still air their classic dramas on their "aTV Classic" channel. As for the boss of China 3D Digital Entertainment, Xiao Ding Yi also bought 29 of ATV's dramas that his father, Xiao Ruo Yuan had helped produced in the past.

 

Regarding TVB buying ATV's classic dramas, TVB TV Program Director, Dou Chi Hak confirmed that they indeed bought two sets of action dramas and non-action dramas from ATV; altogether over 2500 hours of their dramas. He expressed that the price they agreed upon is reasonable. The Cantonese movies they bought from ATV, in addition to the ones TVB owned before, there are a total of 1400 movies. They will be broadcasted on the new channel established by TVB on their paid network. As for the other set of ATV dramas, they are still developing a plan for them.

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sigh. what are they going to sell next year? either sell everything and close down or merge with HKTV for money.

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i wonder why tvb is helping.... i thought they hated atv

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They help each other since old times are friends. rather then let later HKTV buy the TV station more issue

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TVB is helpng ATV not because they're friends, it's because ATV is not a threat, they have proved to be incapable of challenging TVB domination. TVB rather deal with ATV than the new stations.

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Sounds like ATV is hanging on by a thread. Do they still have anything left to sell?

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damn if this goes on aTV is going to head rockbotton by next year. i mean if they are having so much trouble paying their license fee

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With how things are going, TVB may as well acquire ATV. Or HKTV can acquire ATV and they will finally have that coveted TV license they've been dreaming about.

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HKTV should buy ATV so they can be a real TV! Hk and TVB do not like HKTV because they are afraid they will take over! ATV is so bad that TVB and the govt do not care because they have no threat!

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I feel like ATV should just give up their license. They haven't been doing well for a while now and it's not like a miracle is going to happen and rescue them from their impending doom. Why won't they just give HKTV a chance? :/

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LOL Oh TVB you're intentions are so obvious you appear as the good guy helping out ATV but really you just don't want HKTV to buy ATV and compete with you lol...

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anyways it nice to know tvb is helping out atv...at least its nice to know they are not enemies...

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TVB can't buy ATV. But helping ATV now can delay having other networks coming in. The shareholders of ATV are not willing to sell the network at discount, which HKTV wants.

 

I think it will be hard to pass the ATV license to HKTV unless HKTV can show it has the sound finance. Right now, its record will be hard to convince to the BA that it will not end up like ATV. The rating is low and has little programs to show for. All the dramas shot so far will have to be edited or re-shot in other to conform the rules for general broadcast for free and over the air.

 

 

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I think its stupid for TVB to buy ATV series.

 

ATV series should belong to ATV...

 

If ATV cannot cannot afford to keep it owns series and pay for staff salaries, the government should revoke their license.

 

 

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I think TVB is robbing ATV on pretense on helping it. First it steals ATV's classics which draw an audience then by helping ATV, it keeps HKTV from getting a license. Killing two birds with one stone.

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Aww... TVB is helping the competition, soon enough u would think they might also swallow the competition... this is only the beginning

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TVB "helping" ATV does not reduce the threat from Cable and Now.. whatever or whenever those two are even going to do anything with the license

 

and what are they going to do next time ATV needs money

 

wonder what these regulations are, such as how much content needs to be 'new' each year or something on those lines, and when is the latest those 2 news channels have to be up and running

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ATV pretty much sold everything to TVB. TVB is trying to keep ATV around so HKTV don't have a chance to get a TV license. But how long can ATV survive, this maybe a chance for HKTV to step in, just hope their boss is smart enough.

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maybe the government shouldn't renew ATV's contract, they should give the contract to HKTV instead

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TVB will be looking to keep ATV afloat as another ally to fight HKTV.

 

HKTV has a kind of modern cinema feel about their series, but I think growing up with the cheesy TVB and ATV production methods makes the new HKTV less enjoyable.

 

Good to see ATV live to fight another day, but I think they will get bought out soon by another billionaire. But they need to sort out their act otherwise they will just sink again!

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I wondering why ATV is doing so bad.

I personally prefer ATV series, but they haven't made any series for years.

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