Linus Cheung Wing-lam, the ambitious chairman Asia Television had hoped would revive its flagging fortunes, has reportedly stepped down one year after his much publicised appointment.
His departure would be another blow to ATV, which appeared to be on the mend after an injection of funds early this year by Tsai Eng-meng, a Taiwanese billionaire.
Ricky Wong Wai-kay, chairman of City Telecom (Hong Kong), was appointed as the station's chief executive at the same time as Cheung but quit after less than two weeks.
Sources close to ATV's board of directors said Cheung probably 'saw the writing on the wall' when businessman Payson Cha Mou-sing - whose family controls the broadcaster - started wielding more influence in management issues.
A spokesman for ATV was not available to comment.
Chan Wing-kee, an ATV shareholder, declined to speculate on the rumour but said the operations of the broadcaster were fine.