Newly appointed ATV chief executive officer Ricky Wong Wai-kay - also chairman of listed company City Telecom - has dreams of becoming a media tycoon. Taking the helm at the struggling ATV could be an important step towards fulfilling that goal.
Appearing in his first press conference as ATV chief, Mr Wong also spoke of his other dream: merging the telecommunications business with television.
These were not off-the-cuff remarks. Mr Wong did not join ATV because he wanted to transform the underdog into a strong terrestrial television player to challenge its dominant rival, TVB. Mr Wong joined ATV to fulfil a different - if not a higher - ambition.
Teaming up with former PCCW deputy chairman and now ATV executive chairman Linus Cheung Wing-lam, the two seasoned telecom specialists, though novices to broadcasting, want to open up new horizons for traditional television media, probably through convergence with Mr Wong's Hong Kong Broadband, an online TV platform.
Mr Wong has side-stepped questions about whether he would pursue a backdoor listing for ATV through merging with Hong Kong Broadband. He only said it would be a lie if he said he wanted to list ATV in the current investment climate. But one should not be surprised to see a back-door listing in the future after Mr Wong sorts out the problems at ATV. Such a plan would suit both Mr Wong and its majority shareholders, the Cha family of Hong Kong Resort Company Limited.
Mr Wong has moved into a position that will make him privy to ATV's books and conduct his own due diligence. If ATV is merged with Hong Kong Broadband, new shares may then be issued for the merged entity. This would relieve the need for the Cha family and other shareholders to provide financial backing, while at the same time offer the possibility of receiving new shares. As for Mr Wong, by then he would realise his media baron ambition. It is a win-win solution.
There is no real commitment for Mr Wong to take on the ATV challenge. If he succeeds, he would be able to build a new media empire. Should be fail, he can just leave. This is not Mr Wong's first attempt to pursue this dream, having once owned a pay television licence that he later gave up.