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

[Chloe.C 25]

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.

[renebean 0]

sigh, tvb is monopolizing the whole entertainment business in hong kong, this is just sad. We have no choice in what we want to watch. I think atv should sell or merge their broadcast station with hktv.

[TruePromise 0]

This means HKTV will have to wait a lot longer. I'm sure Ricky Wong had been waiting for ATV to announce they're filing chapter 11 or something.

[sfkhk21 0]

that's awesome that tvb purchased these dramas. at least it wont be lost whenever atv closes.

[erict1628 0]

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

First of all, TVB doesn't hate ATV. Why would they? If anything, it's the other way around.

 

As for why TVB would help ATV. Simple, so that ATV would stay alive and keeps the free broadcasting license from being given to HKTV, whom TVB sees as a bigger threat.

[TVB series ddl 1]

nice i hope that they'll reair the old atv series very soon

[apokalips 0]

i think tvb made a great deal getting all those shows like - my date with a vampire. before they go out of business and lose all those shows. there are some old shows i hope they got and will air. now that atv has the money to pay the employees i hope the head of atv quits or gets fired soon for getting in this mess. otherwise they will for sure be back in the same situation unless they make changes.

[MissMariposa 1]

Wow didn't realise ATV was doing so badly! TVB must be desperate to keep HKTV at bay to 'help' like that. HKTV shows have only been average so far in fact on par with the normal TVB churned stuff albeit in slightly different ways. I think I am about to give up on all of these productions.

Edited March 25, 2015 by MissMariposa

[fatju 0]

Hopefully ATV is a "broken boat has three nails" & can survive for a little to prepare the end...

[hiddenemotions 1]

i just don't get why ATV is still alive....and hard to believe TVB is nice enough to help them out hahahah

[coldasice 0]

i wonder if tvb is going to air the dramas. there is a much stronger chance tvb would air the films

[amazin100 0]

There's nothing to watch on ATV and the only reason TVB help them is to hurt HKTV and buy ATV shows cheap. Maybe HKTV should buy ATV or merge so they can fight TVB together.

[Evilmaster44 0]

China pulling the strings in the back to prevent a different company from acquiring ATV or their licence through purchasing the company??

[hopehope 0]

Glad to hear TVB is helping out ATV during its financial crisis.

[Elisachang 0]

It"s nice to know TVB is ''helping'' ATV so that HKTV can't get a TV license.

[AznBombr1022 0]

totally cant wait for tvb to start airing atv series sincce i never got a chance to see any of them before

[xvmon 0]

in the past atv drama was really good....what happen to them...

[leanne lim 0]

will tvb air the drama since some of the artist are tvb staff now ...

[cheng_inagaki 0]

dont really like ATV production...TVB one are much better

[onpole 0]

atv drama was really good....what happened to them

[origami099 0]

It is so strange who TVB is willing to help out in times of crisis and who they will squash to keep their power.

[clsenz 0]

really miss the old ATV series, like my date with a vampire, flaming brothers, etc