ATV sells classic programmes to Hollywood giant Fox
Fox continues its push into Asia by striking deal with the struggling broadcaster to buy 28 series
International film producer Fox has agreed to buy 28 vintage TV series from Asia Television for an unspecified amount, as the struggling free-to-air TV station desperately seeks cash to stay afloat.
It marks Fox's latest push into the city's evolving TV sector, which will see ATV fold next year - when its licence expires after it failed to come up with a restructuring proposal - and new players entering the market.
Fox International Channels (FIC), a wholly owned subsidiary of 21st Century Fox, and ATV announced the deal in a statement yesterday.
Under the agreement, FIC will acquire a total of 840 hours of content from the ATV library for "a mutually agreed" amount. The programmes include ATV's signature drama series My Date with a Vampire, Flaming Brothers and I Have a Date with Spring, which were produced in the broadcaster's heyday.
The company said it had acquired the perpetual right of these programmes, meaning there would be no time limit on broadcasting rights. It did not specify whether it would resell the shows or produce new versions.
"FIC has no intention to acquire ATV at the moment," the Hollywood giant added.