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It was reported that TVB has decided to assist ATV in its financial crisis – by purchasing the broadcasting rights of several classic Cantonese films.

According to Oriental Daily News, TVB Group CEO Mark Lee recently confirmed the reports, saying that the company has bought around six to eight black-and-white Cantonese films licensed by ATV for a few million Hong Kong dollars.

Lee also revealed that the films will be re-mastered before their online premieres.
Asked if there are other types of assistance that the company will do for ATV, Lee stated that TVB has no qualms in providing more resources and sharing it with ATV, including things like news clips and interviews.
Meanwhile, ATV Executive Yip Ka Po, who attended the Walk for Millions event held on 11 January, declined to discuss the actual amount of TVB’s purchase, adding that the amount is not an issue as long as it can help the company recover from its current situation.
(Photo source: news.mingpao.com)