Payson Cha was the man behind the scenes of soap opera at ATV

For the past three weeks, the management reshuffle at Asia Television has dominated local media coverage. While the public may perceive executive chairman Linus Cheung Wing-lam to be the victor after Ricky Wong Wai-kay's resignation, the director of this soap opera was actually Payson Cha Mou-sing, chairman of the broadcaster's board of directors.

The resignation of Mr Wong as ATV's chief executive after 14 days of 'probation' last week brought the curtain down on the drama, which opened on December 4 when ATV announced that Mr Cheung and Mr Wong would lead the reforms at the loss-making television station.

Media Eye has learned that Mr Cha was the key player throughout the 14-day episode. He had been asking for another round of fund-raising since this summer, when it came to light that the HK$800 million raised last year by selling a majority stake in the broadcaster to Mr Cha and related parties had been used up.

But since former chief executive Louis Page left the company, Mr Cha seemed to be acting on his own to pump cash into the broadcaster.

Mr Cha and his brother Johnson Cha Muo-daid, representing the Cha family on the board, hold 10.75 per cent of ATV. Chan Wing-kee and Liu Changle, representing Dragon Viceroy, hold 26.85 per cent, and Citic Group holds 14.81 per cent. The Cha family, ABN Amro and Mr Page together hold the remaining 47.58 per cent through Alnery.

'Only Mr Cha was wholeheartedly committed to ATV's latest cash call. Other shareholders, including Chan Wing-kee, Liu Changle, Citic Group and ABN Amro, had no interest in putting in any more cash into the broadcaster,' a source said.