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ATV is "DEAD", HK Government denied ATV license renewal!

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Source: The Standard

Images: The Sun

Youtube: Appledaily

 

 

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The Chief Executive in Council has refused to renew the license for the troubled broadcaster when it expires on November 30 this year, putting a final nail in the coffin for Hong Kong's oldest broadcaster.

 

The government yesterday notified ATV that it will be given until April 1, 2016, to operate with its spectrum revoked on the same date. Up to 700 employees will be made redundant.

The decision on the fate of the 58-year-old station came amid a 24-hour rollercoaster ride, with ATV announcing on air on Tuesday night that it had secured a "white knight" investor in HKTV's Ricky Wong Wai-kay. But Wong denied yesterday there was any such deal. Then came news yesterday morning of another mystery investor signing a deal with major ATV shareholder Wong Ching. But this investor is unlikely to push through with the transaction as the memorandum of agreement hinged on an ATV license renewal.

 

Secretary for Commerce and Economic Development, Gregory So Kam- leung said Exco had "considered all relevant developments and facts, including the news bulletin by ATV last night and the clarification from HKTV." He revealed that eight minutes past midnight yesterday he received a letter that "a few people had an indicative offer for ATV but there was no mention of a deal." He said the non-renewal decision was "well-deliberated" and that ATV was given enough time to submit its restructuring plan by Tuesday's deadline.

 

Accountancy firm Deloitte was appointed by the courts to oversee the station. In November, ATV requested leeway until the end of last month to give it time to develop a restructuring plan. On January 2, Deloitte asked the Executive Council not to make a final decision because of the ongoing restructuring. After seeking legal advice, the government gave ATV until March 31 to make its proposals. "By the deadline, no specific proposals were made by ATV on restructuring," So said. "The CE in Council also considered the request in the submission for the extension of the deadline and the information made available this afternoon, but was not satisfied that a sufficient case has been put forward to justify any further extension of time."

 

It is the first time in broadcasting history that an existing license was not renewed. So and Communications Authority head Ambrose Ho Pui-him warned that if ATV committed another serious breach of the law within the next 12 months, its license will be revoked immediately. The government will set up a task force to ensure the speedy resolution of various issues and to minimize any adverse impact of the non-renewal decision. The government has invited RTHK to provide an analogue TV service channel to give audiences one more choice from April 1 next year up to 2020. "For the spare spectrum, we will look at the entire situation and work according to Broadcasting Ordinance and spectrum policies to decide how to allocate them," So said. "Currently we cannot tell how we are going to arrange it." So said if ATV closes down before the scheduled timetable, RTHK will take over the service.

 

Calling yesterday "the darkest day in Hong Kong," ATV's major investor Wong Ching said he was not surprised by the license renewal failure. He attributed it to "a series of conspiracy and deception regarding the sale of the shares of ATV in these two years." He added it was "the price paid by a conscientious media station."

Edited by GTR

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That is a shame I use to watch allot of ATV shows. I preferred their shows to TVB.

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Chinese businessman Wong Ching had no interest in saving Hong Kong ATV ... it is a sad thing to see ATV is dead ... early in March 2015, there were 2 potential buyers who wanted to purchase ATV but Mr. Wong declined the deal they offered him ... ATV did not even want to save itself from bankruptcy ... by failure to submit to the chief executive in council its restructuring proposal, ATV had automatically sealed its fate. :76:

Edited by kenixkwok

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HKTV you shud join with ATV why let this license go to PCCW,HK Television Entertainment to NowTV. My enemy enemy is my friend.

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Hopefully, HK media ministry won't have any valid reason to decline HKTV's request for a broadcast license.

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ATV has been so bad for so many years, it is only logical that it will soon fail, I am surprised it lasted as long as it did

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Always knew ATV would end some day but this was sooner than I thought...

 

So now, it's who will actually get the TV license.

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never really liked atv's drama, but it lasted longer then i had originally thought

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atv used to produced alot of quality ancient drama which i enjoy very much. why no news from hktv to buy atv?

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haiz..everywhere with economy crisis.. how I wish they could survive so that we could have more choice when comes to drama :( for those jobless soon, do take care!!

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wow, really going to miss ATV. this tv program made some pretty good dramas in the past and it is definitely is sad to see it go since TVB is making pretty crappy drama in the last five years. Let's hope TVB would take a lesson from ATV's current situation.

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I'm surprised ATV managed to hang on for this long. I wonder what's going to happen to the HK tv landscape now.

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If only they'll give HKTV the license. Now there will only be TVB?? How unfair. No competition, the quality will just get worse...

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I throught TVB bought a lot old series from ATV so they can continue. I wonder if the goverment will finally give license to HKTV.

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even thought ive never watched an atv drama, it is still sad to see this happen

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i really thought that HKTV and ATV should have become a partnership or merged. Thus, giving HKTV its broadcasting license (via ATV) and create more exciting shows to battle it out with TVB

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oh that's a shame that ATV no longer exists. there's only tvb now

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Lol that took a while for them to die off. I wonder which actors and actresses are gonna come back to TVB

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that's really too bad. i know my relatives in hk love this station. I use to prefer tvb, but lately there shows have been crappy to me. it was nice to have this alternative

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With all the debts ATV owes this is the only answer after these couple of years of struggling. Whether it's due to insufficient revenue or poor management team for ATV to become what it has becomes today, it'll be a mystery. It also doesn't matter with all the accusations against executives or shareholders anymore, this is the END! Sad but this the real business world.

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i used to watch ATV dramas but still.... its sad to see the company go down like this.

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