Troubled Hong Kong television station ATV is hoping to avoid a news blackout by paying its disgruntled staff just half of their November salaries. Who knows what they’re planning for the December payroll, but half a step at a time, ey.
The future of Asia Television, which hold the grand accolade of being the first Chinese TV station ever after its launch in 1957, has been hanging in the balance since Hong Kong’s High Court ruled earlier this month that Wong Ching, a mainland businessman and major investor in the station, had interfered with its running.
With its licence also in jeopardy, reduced ratings and its reputation severely damaged since a false report on former Communist Party leaderJiang Zemin’s death in 2011, the free-to-air broadcaster is having serious cash flow problems and has been unable to pay its staff.
However, ATV’s Executive Director Ip Ka-po announced today that half of November’s salaries would be paid to workers within the next couple of days. That is expected to knock HKD7 million off the HKD15 million they already owe (not including December salaries).
Staff, who released an open letter last Sunday saying they would stop work if overdue earnings were not paid by Dec. 31, are unsurprisingly still not very chuffed, and are vowing to reduce their working hours from Jan. 1.
According to SCMP, a full news blackout would jeopardise ATV’s chances of finding a new buyer and ensuring its licence is renewed next year.
After a court ruling, two Deloitte China accountants were appointed to manage the station last week,.
Ip said he is hoping “white knight” investors and stakeholders will save the station’s skin.
Photo: デニス モジョ via Flickr
