Troubled broadcaster ATV finally pays employees after selling farmland
Cash-strapped Hong Kong broadcaster ATV said on Wednesday it had finally paid its staff outstanding wages, and was on course to meet a deadline to pay its television licence fee.
After a fire sale of farmland assets, cash-strapped Hong Kong broadcaster ATV said on Wednesday it had finally paid its staff outstanding wages, and was on course to meet a deadline to pay its television licence fee.
Ip Ka-po, executive director of the troubled free-to-air channel, announced to journalists: “I have good news for everyone. We've resolved all our staff salaries issues, given out owed wages for December and January. Employees have been paid in full.
The Communications Authority confirmed it had received cheques from ATV today in settlement of their outstanding licence fees and interests.
READ MORE: ATV’s 33-year history, from trendsetter to troubled broadcaster
ATV’s sale of farmland and licence fees, along with unspecified extra revenue, was enough to cover the two debts. “We think it’s a very satisfactory business deal,” Ip said.
A probe is continuing into ATV’s failed January salary payments to staff while the Labour Department said it was is working with the Department of Justice to determine whether the government would prosecute further.
The broadcaster was slapped with a HK$380,000 fine last week after one of its executives pleaded guilty to 38 summonses that accused the TV station of failing to pay its staff hundreds of thousands of dollars.
While ATV raised HK$10 million yesterday from the sale of agricultural assets, its television coffers swelled after Stephen Siu Ding-yat, son of screenwriter, film producer and former radio host Stephen Shiu Yeuk-Yuen, just bought back copyright of 29 ATV soap operas he produced in the 1970s and ’80s, providing some relief for current employees.