Update | Debt-strapped ATV given harsh warning by commerce chief as executive vows partial salaries will be paid
ATV's salary shortfall for the second half of November alone ran into seven figures, management admitted, while being non-committal on whether the full sum would be settled tomorrow.
Cash-strapped ATV was yesterday slapped with its strongest official warning yet, with the commerce minister warning the overdue staff wages could affect the chances of the government renewing its free-to-air broadcasting licence before it expires in November.
The company's executive director, Ip Ka-po, said today they are exhausting all means to raise funds and solve the wage crisis. He said the station would start issuing outstanding salaries from the second half of November 2014 tomorrow, and staff would see it reflected on their bank accounts by Thursday.
ATV's salary shortfall for the second half of that month alone ran into seven figures, management admitted. Wages for the whole of last month remain unpaid.
Ip said he couldn't give a timetable on when December pay can be issued, but that the company would try as soon as possible.
That is on top of three months of late payments between July and September, exposing financial woes at a critical time when the Executive Council is considering the renewal of the 57-year-old station's free-to-air licence.
The Communications Authority has recommended that Exco reject a renewal, a recent court hearing was told.