As reported on HK Channel, previously, HKTV CEO Ricky Wong announced the plan to the public, saying that the company will be renting 11 of ATV’s channels – a move that was considered beneficial to both sides as HKTV would have a legal TV platform to broadcast its shows, and ATV will receive profits to continue paying its employees until the end of its run next year.
After weeks of negotiations, it was revealed that HKTV has recently withdrawn its offer to ATV in renting the latter’s channels for its programmes broadcast.
HKTV reportedly offered to pay ATV HKD5 million (approximately USD645,111) per month to air four hours of programmes every day on its channels. However, ATV counter-proposed, and stated that they would not agree for less than HKD10 million (USD1.29 million) per month, with three hours of programmes every day.
Though HKTV extended its offer deadline until 27 April, ATV would not budge, resulting into the retraction of offer from Ricky Wong’s side.
Many speculated that the recent High Court result – which determined that the Hong Kong government was at fault in the issue of HKTV’s failure to get a TV license, may have played a minor role in HKTV’s retraction of the offer.
(Photo source: ejinsight.com)