Asia Television (ATV) is expected to finalise its advertising revenue-sharing agreement with the Guangdong government in three months, the firm's single largest shareholder Liu Changle said yesterday. The agreement will allow Hong Kong's No2 broadcaster to keep up to 70 per cent of the revenue. 'ATV has a much higher rating than Phoenix [Satellite Television] in Guangdong. So its split with the government will be less than what Phoenix has,' said Mr Liu, also chief executive and chairman of Phoenix TV. Phoenix's Putonghua channel has a viewer rating of 2 per cent in the Cantonese-speaking province, while ATV has a rating of 18 per cent. Phoenix has a 70:30 split of the TV advertising revenue with Guangdong through its joint venture with Guangdong Television Broadcasting Development Centre. Mr Liu said the profit collected by the joint venture, though insignificant, would be shown in Phoenix's results for the year to last month. The lucrative Guangdong TV advertising market is estimated to be worth as much as 3.5 billion yuan (HK$3.27 billion) a year.