Albert Cheng agrees to sell his stake in Digital Broadcasting Corporation

A breakthrough has finally been reached in the months-long Digital Broadcasting Corporation dispute, with its co-founder yesterday confirming his plan to sell his stake to a Beijing-loyalist fellow shareholder.
A contract would be signed by the end of the month with Bill Wong Cho-bau, DBC co-founder Albert Cheng King-hon told Cable TV yesterday. The contract would not set any conditions that would curtail its radio hosts' freedom of speech, Cheng said.
"It was a helpless situation. [Selling off DBC] brings an end to the matter," said Cheng. "Wong has promised to employ the old hosts who used to work in DBC."
Cheng did not divulge how much money was involved but said he would invest the sale proceeds in another internet radio broadcaster. He said he did not know when DBC would resume broadcasts.
A lawmaker voiced concerns about the possible political motives behind Wong's buyout of DBC, fearing that the city's first digital broadcaster would lose its freedom of speech.
"It's a sad story and the matter has yet to come to an end," Civic Party legislator Claudia Mo Man-ching said.