17 Jun - It was recently revealed that Asia Television Limited (ATV) may have a chance of revival with the emergence of new investors.
As reported on HK Channel, the big boss himself, Executive Director Ip Ka Po announced the news at a banquet held recently to celebrate the station's 58th anniversary.
Ip revealed that the company has made an agreement with an investment group, though declined to share the name of the buyer.
He also stated that more details of the deal with only be revealed next week.
According to sources, ATV's new buyer is a company from mainland China that hopes to re-establish it into Asia's cultural media group.
Aside from turning it into a multi-media company and hiring new employees, the new ATV will also be applying another free-to-air license, after the Hong Kong government rejected ATV's license renewal earlier this year.
(Photo Source: South China Morning Post)