Broadcasting Authority backs Asia Television shareholding changes

Agency reminds ATV to respect all statutory requirements and licensing conditions pertaining to management and control.

The Broadcasting Authority has approved Asia Television Limited's application for change in its shareholding and ownership structure, according to a government report.

The change arises from the introduction of a new shareholder - Wong Ben-koon - who will acquire all the 52.4% voting shares of ATV collectively held by three existing shareholders - Panfair Holdings Limited, Dragon Viceroy Limited and China Light Group Limited.

In response to public concerns over the control and management of ATV, the authority has written to the company to express its serious concern and seek further information and clarifications on the matter.

The authority has reminded ATV, as a domestic free television programme service licensee, to respect the spirit and letter of all statutory requirements and licensing conditions pertaining to management and control, ensure strict compliance with these requirements and adopt the highest standards of corporate governance commensurate with the status of a domestic free television programme service licensee.

Full probe
Meanwhile, the authority will launch a full investigation into the complaint case alleging that Television Broadcasts Limited has abused its dominant position by engaging in anti-competitive practices in contravention of section 14 of the Broadcasting Ordinance.

The authority has also rejected the application of Ocean Technology Limited for a sound broadcasting licence because the applicant did not provide sufficient information about its proposals on use of spectrum, service coverage, and technical details of the intended service.