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Lai Ying-kit

Asia Television will pay half of the unpaid November salaries owed to its 700 employees by year end, a senior executive from the troubled broadcaster said today.
Some HK$7 million is expected to be paid to staff within two days, ATV’s executive director Ip Ka-po said.
The cash-strapped station has yet to pay salaries for last month totalling more than HK$15 million.
In an open letter issued last Sunday, the television station’s news department threatened to cease work if the broadcaster did not pay overdue earnings by December 31, which it said would be a breach of contract.
A news blackout caused by the threatened indefinite walkout would put ATV at risk of breaching its licensing conditions as it looks to find a new buyer and ensure its free-to-air licence is renewed when it expires in November next year.
ATV journalist Law Pui-king said that she and other station employees were not happy about the expected payment.
“Many of my colleagues I just talked to are not OK with this. It’s only half a month’s salary,” she said.
Law said the news department would go ahead with its plan to work reduced hours from January 1.
The latest developments come with ATV staff scheduled to meet two accountants from Deloitte China later today. The two were appointed as managers of the station on Wednesday following a court ruling.
Ip said it remained unknown when ATV could pay December salaries.
He said the station was able to pay the HK$7 million after management contacted clients to collect advertising and channel fees over the Christmas holiday.
He said the most effective way to save ATV was for the station to receive fresh capital from new investors and existing stakeholders.
“We hope there will be a white knight to come to our help as soon as possible,” Ip said outside the station’s office in Tai Po today.
“I also hope shareholders, in particular the Tsai family who won the court case, can inject fresh funds,” he said.
Taiwanese snack tycoon Tsai Eng-meng controls Antenna Investment, which owns 48 per cent of ATV. The High Court earlier this month ruled in favour of a petition filed by Tsai. The judge found major investor and mainland businessman Wong Ching had interfered in the running of the station and jeopardised its future.
The station’s licence was already in jeopardy after the Communications Authority told ATV it would recommend that the chief executive not renew it because of poor management.


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ATV - Asia Television Limited

Troubled ATV to pay staff half of their unpaid salaries ‘within two days’

ATV executive director Ip Ka-po said some HK$7 million is expected to be paid to staff within two days. Photo: David Wong

News

Hong Kong

Asia Television will pay half of the unpaid November salaries owed to its 700 employees by year end, a senior executive from the troubled broadcaster said today.
