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Jimmy Lai hosts a programme for DBC. Photo: Jonathan Wong

DBC radio won't rely on tycoons' money, says co-founder Albert Cheng

DBC
Ada Lee

Troubled radio station Digital Broadcasting Corporation will not accept any more funding from tycoons and affluent corporations, co-founder "Taipan" Albert Cheng King-hon says.

Speaking on his morning radio show yesterday, Cheng said the station would rely on income from commercials and donations from the public.

He rejected speculation that media tycoon Jimmy Lai Chee-ying might inject funds. Lai, whose Next Media publishes the newspaper, appeared on the programme as a guest host.

Cheng said last month that DBC had to shut down because a major shareholder, Beijing loyalist businessman Bill Wong Cho-bau, refused to top up his investment for political reasons.

Asked why he would turn down more funding from tycoons, Cheng said he felt "betrayed by a good friend" - referring to Wong, who has filed a High Court writ against DBC about the station's book-keeping. The case is due for a hearing on Monday.

Cheng said the financially troubled station would continue to operate, but he did not know how long it could last.

Lai's and will broadcast some of the station's programmes on their websites. "Jimmy Lai just turned up in the station [on Wednesday] morning, saying he wanted to be a host on my programme," Cheng said. "I was surprised. We haven't talked to each other for many years."

Speaking after the show, Cheng said: "There's no formal agreement between us. I just think it's worth co-operating with [Lai]. I will not accept any injection of funds from him and he would not invest in us, either."

Next Media had announced through Hong Kong Exchanges and Clearings on Tuesday that the company had been approached by "independent third parties" who were interested in acquiring its print media business in Taiwan.

Lai did not respond to questions about that news yesterday, but he was quoted in an story saying that his business in Hong Kong would not be sold.

This article appeared in the South China Morning Post print edition as: 'End of tycoon funding for DBC radio'
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