Asia Television Limited (ATV) will stop broadcasting on Friday after its liquidator Deloitte announced on Thursday evening that it will dismiss almost all ATV employees.
Derek Lai Kar-yan, Deloitte China’s Southern Region managing partner, said that the decision was made because “it still did not receive any funds [from new investor China Culture Media International’s Si Rongbin.]” As a result, the television station will have to dismiss staff and stop its broadcasts, he said.
Jeremy, an employee at ATV, said that he was prepared for the decision, but “it’s a little pitiful that [ATV] cannot celebrate its 60th anniversary.” He added that ATV “had ran its natural course, so it’s the end,” even if it was not the best ending, Ming Pao reported.
ATV artist Choi Kwok Wai also told reporters that Deloitte’s decision was expected and is a relief for all employees at ATV. He added that ATV has not paid his wages for nine months and will seek compensation.
Si’s representative Ho Tsz-wai said, “We are not the ones who caused ATV’s shut down. We have tried to support ATV’s operations through different methods since last April.” She asked: “Why does [Deloitte] have to shut down ATV so crudely? Where is its [sense of] social responsibility?”
Philip Ching, a production manager at ATV, said on Friday morning: “The ATV brand will go on forever.”
The TV broadcaster has been plagued with a series of scandals in recent years. In December, ATV’s executive director Ip Ka-po resigned after the company failed to pay all its employees their November wages by the deadline. In 2011, the broadcaster also incorrectly reported the death of Jiang Zemin, former General Secretary of the Communist Party of China.
The High Court has ruled that it will not stand in the way of actions taken by Asia Television (ATV)’s liquidator to shut down the station on Thursday afternoon as ATV’s stakeholders and Deloitte failed to come to an agreement.