Fading ATV can only survive ‘four more months’ without injection of funds

ATV will be able to stay on air for four months at most unless shareholders or investors inject fresh funds into the station, its executive director Ip Ka-po admitted yesterday.

The station's reserve funds had been almost "emptied", but it needed HK$30 million a month to continue broadcasting until next April when its licence expired, Ip told Commercial Radio.

Salaries amounted to HK$10 million and operating costs were HK$20 million, he said.

The station would now have to sell its assets, including its programmes, to stay afloat, Ip added.

The government ruled on Wednesday it would not renew ATV's licence after the station was plagued by problems including falling advertising revenue and viewing figures and an inability to pay staff on time.

Judging by a recent row between shareholders, Ip said there was only a slim chance of anyone providing extra cash. Shareholders and investors stopped injecting new funds months ago.

While the government has made it clear that its decision to pull the plug on ATV was final, the Post reported yesterday that influential supporters were still hoping to keep the station afloat.