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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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TVB helping ATV is a good choice, and I hope TVB will broadcast Showbiz Tycoon because there's a bit about Shaw Brothers...

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Sounds like TVB wants to claim to be the best broadcast in HK haha. Well it must be nice to help out ATV.

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I thought ATV was already dead. why is it even still functioning when they haven't made any new series and don't have any viewers?

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It's nice that TVB is "helping" ATV. They probably are so willing to help because they don't see ATV as a threat and by helping, it will prevent out networks from coming in.

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It's good to see TVB helping ATV but can ATV get back on her feet?

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It's sad news to hear atv not doing well. It's good that TVB stepped in to help this time but I don't think atv can last too long...

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ATV has to be embarrassed of this. They lost their actors and actresses over the years. Now they lost some of their popular shows shows. That was the one thing they had left on their name. ATV should just bow out.

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think that it's all gimmick, if TVB was so sincere in what they are doing, they won't need to wait till now to make this move. moreover with the publicity that comes along with this. not sure how genuine they are. but i do sympathize atv

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ATV should work out a deal with Ricky, HKTV gets the license, ATV gets money , everybody wins. If not i dont know what ATV have left to sell next year.

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Sounds like ATV is hanging on by a thread. Most of the artists I like from ATV is now at TVB.

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they are not really helping them, they just prefer to keep ATV afloat so real competition do not arise

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What is going to happen next year? How much more drama does ATV have? Are we still going to have ATV channel?

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Wow... two big stations.. wonder why ATV was doing so bad.. last time was great!

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If TVB don't "help" ATV, they probably have one less competitor. Maybe there are other reasons which is not known now and will surface later

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When you start selling your assets, then it's the end of the road. Don't think ATV can exist that long. They once had some very good shows, but not for a number of years.

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my date with a vampire is their best series! I absolutely loved watching it as a kid. ATV dramas have some pretty good plots not sure why more ppl don't watch their stuff.

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does it a matter of crisis all the time? As i know the ATV series was too bad , can't attract netizens either

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so much action and still closing down. For god sake, let those who want to do something good hold the liscense.

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It is too bad that ATV is in trouble for the financial problem. Some of the movies are very good. I like to have one more choice for movie to watch. Hope that they can solve the problems.

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TVB is helping ATV for a reason. Buy up all the popular dramas/shows before other TV stations. I really miss the 1980's and 1990's where ATV had some really good shows.

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oh wow that's my fav drama when I was kid. can't wait for tvb broadcast this drama

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