The future of the newly established Digital Broadcasting Corporation is uncertain after its co-founder, 'Taipan' Albert Cheng King-hon, said yesterday the shareholders had 'lost mutual trust'.
In a statement by the radio broadcaster after a board meeting, DBC said some shareholders were split on issues related to 'the injection of capital and the operational direction'. They plan to hold a special board meeting to resolve the row.
Cheng gave no details, saying only that the differences were not related to money but about 'the ways of running a business'.
He refused to say whether the differences were based on the editorial direction of the station's current affairs programmes, which have criticised the government. ''Ways of running a business' can refer to a lot of things,' he said.
Cheng, a former lawmaker and a veteran radio host, made a name for himself hosting Commercial Radio's Teacup in a Storm from 1995 to 2004, often criticising the government.
In 2008 he was granted a 12-year licence to run a 24-hour Cantonese-language radio station, with an investment in the first six years estimated at HK$620 million.