March 04, 2015 8:33 AM ET

Media

Company Overview of Asia Television Limited

Company Overview

Asia Television Limited operates terrestrial television broadcasting stations in Hong Kong. Its channels provide subscribers with various programmes ranging from news, current affairs, documentaries, travelogue, infotainment, finance, healthcare, women, children, youth, senior citizen, culture, religion, drama, reality to sports and horse-racing, and North and South American television programmes. The company also produces and stages its own shows, such as beauty pageants, singing contests, and community events; and provides TV dramas from South Korea and Mainland China, and offers cultural and creative industries in Mainland China, Hong Kong, and Taiwan. It serves its customers in Hong Kong...

25-37 Dai Shing Street

Tai Po Industrial Estate

Tai Po,  

Hong Kong

Founded in 1949

Phone:

852 2992 8888

Fax:

852 2338 0438

Key Executives for Asia Television Limited

Asia Television Limited does not have any Key Executives recorded.

Asia Television Limited Key Developments

ATV In Talks With Three Investors

Three investors from Hong Kong and the mainland are in talks to buy a majority share in Asia Television Limited (ATV). Derek Lai Managing Partner of Deloitte China states Wong Ching a majority investor in ATV does not find any offer satisfactory and negotiations are still ongoing. Wong Ching controls 52% in ATV through Wong Ben-koon. The offer has been submitted to acquire 10.75% stake held by Wong Ben-koon and 40% stake in ATV held by Wong Ching.

ATV Receives Severs Offers

Several firms are interested in acquiring Asia Television Limited (ATV) stake. According to the news report, the managers of ATV and representatives from Deloitte China confirmed that the company had received ‘several’ proposals to buy a 10.75% stake in the TV station. But labor minister, Matthew Cheung warned that finding a ‘white knight’ did not mean ATV could further delay payment of staff salaries. The company has until January 25, 2015, to find a buyer for a stake owned by its major shareholder. The tender was initiated after a court in December 2014 assigned two accountants from Deloitte as ATV managers and tasked them with selling a 10.75% stake held by Wong Ben-koon, who controls 52% stake. Deloitte said in a statement that it would take one or two weeks for managers to review and consider the proposals in detail with the relevant parties. “A further update will be provided in due course,” it added. According to the news report, Deloitte refused to put an exact number on how many proposals had been made or discuss who the bidders were.

ATV Sells Off Assets

Asia Television Limited (ATV) plans to sell off assets - including studio equipment and 30,000 costumes - to help pay the 11/2 months of salaries it owes its 700 employees. Ip Ka-po, executive director of ITV, said on December 29, 2014 that intangible assets, such as copyright on old shows, would also go and new deals with advertisers sought in an attempt to stave off collapse.

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