PUBLISHED : Thursday, 02 April, 2015, 2:29am
UPDATED : Thursday, 02 April, 2015, 2:36am
After the uproar caused by the false report that major ATV investor Wong Ching would sell his controlling stake to Ricky Wong Wai-kay's HKTV, the question now is: who should be held responsible, and possibly prosecuted, for releasing the news?
Former commerce minister Frederick Ma Si-hang said yesterday that ATV could have breached laws by issuing inaccurate information.
Ma said he believed the Securities and Futures Commission, the market watchdog, would launch a probe as HKTV's shares appeared to have gone up after ATV's announcement.
"[ATV] made a unilateral announcement on an important transaction that was later denied by HKTV," he said. "This somehow showed the information was inaccurate. If the announcement affected the other company, I believe the SFC would probably launch a probe."
The report about the deal - made during ATV's Chinese-language newscast at 6pm on Tuesday - sent HKTV shares surging 75 cents, or 24.42 per cent, to a high of HK$3.82 at one stage yesterday, before closing up 28 cents, or 9.12 per cent, at HK$3.35.
Trading was unusually hectic, with 87 million shares changing hands, compared with the average turnover of 2.3 million shares a day in the past three months.
According to the report, Wong Ching and his relative Wong Ben-koon, who holds the 52.4 per cent stake on paper, had accepted an offer from Ricky Wong.
Neither HKTV nor Ricky Wong, who is understood to be out of town, responded to the report for almost 13 hours. At 6.57am yesterday, HKTV issued a statement via Hong Kong Exchanges and Clearing saying it had not agreed to ATV's offer.
When asked if a probe would be launched, the SFC said it would not comment on individual cases.
HKTV admitted in its statement yesterday that Ricky Wong met ..... (article cut to save bandwidth)
Chief Executive Leung Chun-ying and his cabinet finally pulled the plug on struggling broadcaster ATV yesterday, deciding not to renew its free-to-air licence which expires in November.
On an April Fool's Day filled with real-life drama that created a bigger sensation than any programme the cash-strapped station has produced in recent years, the Executive Council spent four hours to decide that ATV did not deserve the lifeline it was desperately seeking.
Commerce and Economic Development Secretary Gregory So Kam-leung, the minister in charge of broadcasting, explained that ATV had been given ample time to submit a sustainable business plan to carry on, but had failed to deliver. And there was no potential buyer with a satisfactory financial proposal. "It's the first time in Hong Kong's history that the government has refused to renew a television licence," he said.
The station will be allowed to operate until April 1, 2016, as the government is required to give it a full year's notice. If ATV continues to breach broadcasting laws in the interim, its licence could be revoked altogether.
In a significant move, the government is formally giving a free-to-air licence to Hong Kong Television Entertainment (HKTVE), run by Richard Li Tzar-kai's PCCW, which already operates the subscription-based Now TV. HKTVE, whose licence was approved in principle in 2013, could begin operating a Chinese-language channel within a year, followed by an English channel a year later.
Yesterday's Executive Council decision followed a surprise announcement in the morning by Deloitte, the accounting firm tasked by the High Court to find a "white knight" to save the ATV.
Deloitte confirmed that the broadcaster's de facto boss, Wong Ching, had agreed to sell his 52.4 per cent controlling stake, officially held by his relative Wong Ben-koon, to an unnamed buyer, believed to be AID Partners ..... (article cut to save bandwidth)
Apr 01 2015
BREAKING NEWS: Exco turns down troubled broadcaster ATVs application to renew free-to-air licence
The Executive Council on Wednesday turned down cash-strapped broadcaster Asia Television's (ATV) application to renew its free-to-air licence.
The official announcement came when Secretary for Commerce and Economic Development Greg So Kam-leung held a press conference at 6.30pm.
So said the government had given ATV ample time to submit its financial plan, upon a request made by the station, through accounting firm Deloitte.
Since it is necessary for the purpose of legal procedural fairness, and to give the ATV reasonable time to submit a concrete restructuring programme [we] imposed a deadline of 31st of March 2015, for ATV to submit concrete implementation details, ATV, however, failed to do so by the deadline, he said.
Greg So also revealed that he received a letter from ATV at 12.08am on Wednesday, saying that there were a few individuals and parties interested in ATV's shares, but even in that letter, there was no mention that a deal would be signed.
So emphasised that the chief executive of the Executive Council made the decision based on all information available, but even the information made available to him this afternoon did not satisfy as a sufficient case [for] an extension of time.
So said ATV would be allowed to operate until April 1, 2016, and the government would set up a task force to deal with problems arising over the one-year transitional period.
But in a surprise twist the government said it would instead grant a 12-year free-to-air television license to PCCW-owned HK Television Entertainment Company Limited (HKTVE).
HKTVE would invest HK$2.7 billion over ten years and set up a HK$300 million fund to buy entertainment programmes and documentaries, So said.
So said the percentage coverage of HKTVE would increase from 65 per cent in the first year, to 80 per cent six years later.
HKTVE's English channel, which will start in two ..... (article cut to save bandwidth)
Apr 01 2015
courtesy of mingpao.comcourtesy of on.cc
Alex Fong Lik Sun after his three year deal with Mainland company Huayi Brothers ended was rumored to follow his girlfriend Stephy Tang Lai Yun's footsteps and sign with Sun Entertainment. Yesterday Siu Fong officially held a press conference, officially signed with Sun Entertainment and work with Paco Wong again. Aside from Andy Hui On Chi, Mark Lui Chung Tak, Liza Wang Ming Chuen and others sending videos to congratulate him, his girlfriend Stephy welcomed this "junior colleague" and told him to be good. Siu Fong added, "Stephy is in Paco's hands, I have to win her back from Paco!" Paco presented a sword to Siu Fong for good luck, but Siu Fong joked that it was the most convenient to threaten Paco with to make movies for him.
Paco praised Siu Fong was "Mr. Nice Guy". He revealed that because Siu Fong, Stephy and director Patrick Kong (Yip Lim Sum)'s romantic film series will reach its tenth anniversary, he planned to make a tenth anniversary film this year. Siu Fong said, "I hope any argument at work wouldn't be brought home." The term "Mr. Nice Guy" and "home" inevitably made people think that he and Stephy were married. Siu Fong explained, "Home could be our individual homes, sometimes I would go to her home, she would come to my home, it's very normal. (Paco described you as 'Mr. Nice Guy'?) Did he mean a good teacher and a gentleman?" He said that this signing had nothing to do with Stephy. If he returned to work in Hong Kong, he would still choose Paco even if he did not take a ..... (article cut to save bandwidth)
Apr 01 2015
courtesy of mingpao.comAngela Tong, Janet Chow, Annie Man, Sherming Yiu, Toby Leung and Margaret ChungJackie Chan has never responded to Elaine Ng's child abuse case
courtesy of mingpao.comPresident Jackie Chan is on hand earlyJackie Chan donates 150,000 for a lucky drawing, Angela Tong wins 50,000Eric Tsang originally bids 80,000 on Kenny Bee's calligraphyIrene Wan appears as her classic character Hoi ChiuToby Leung tries a bad girl lookJamie Chik uses a selfie stickJanet Chow, Timmy Hung
courtesy of on.cc
The "Hong Kong Performing Artist Guild" 2015 fund raising banquet took place last night at the Intercontinental Hotel. The theme was "Our 80s". Current president Jackie Chan, vice president Stanley Tong Kwai Lai and Michael Miu Kiu Wai attended. However Jackie Chan stated that he would not accept an interview. Other guests included Karen Mok Man Wai, Irene Wan Bik Ha, Chin Kar Lok, Lo Hoi Pang, Bobby Auyeung Chun Wa, Candy Law Lam, Gigi Wong Suk Yi and Lee Ying.
Although Jackie Chan did not accept any interview, he brought a lot of items for the auction. The fund raised would be donated to needy industry people and assistance to some basic level activities. Second generation stars like Alex Lam Tak Shun, Wesley Wong Hoi Kit, Timmy Hung Tin Ming, Adrian Wong Chi Ching, Shaopin Tsui and Kelvin Kwan Chor Yiu were arranged to salute a group of ..... (article cut to save bandwidth)
courtesy of singtao.comFrancis Ng later will promote in 4 places in the Mainlandcourtesy of mingpao.comNo subject was off limits between Francis Ng and Simon Yam during the shootMark Cheng, Patrick Tam, Francis Ng and director Lau Ho LeungMichelle Wai announces that she is seeing someone; Carlos Chan is happy for her
courtesy of on.cc
Francis Ng Chun Yu, Patrick Tam Yiu Man, Mark Cheng Ho Nam, Philip Keung Ho Man and director Lau Ho Leung, producer Soi Cheang Po Shui two nights ago attended the TWO THUMBS UP (CHUNG FUNG CHEH) premiere. Yam Tat Wa and Leo Ku Kui Ke were not in Hong Kong and did not attend. Guests included Ken Hung Cheuk Lap, Kathy Yuen (Tong Yi) and Michelle Wai Si Nga.
Chun Yu and Ah Tam was asked if the film will be released in the Mainland. Chun Yu said, "Of course, if not how would the film make our salaries back? It's several tens of millions, I am referring to the production cost." Speaking of Brother Wa's absence, some said that he was in Europe. Chun Yu and Ah Tam joked, "Did he went on vacation to show off? Originally we would be on vacation too, but because we have to attend the premiere we didn't go." Will Brother Wa have to take them to dinner as a penalty? Chun Yu joked that he would see if the box office would be better without Brother Wa's promotion. "Actually having Brother Wa to promote is good too. With him around I don't have to ..... (article cut to save bandwidth)
courtesy of singtao.comMiriam Yeung says that Torres is particularly fond of horses and giraffesKarena Lam has not permitted her daughters to have a pet yetVincent Lo, Chu Ling Ling, Sally Yeh and George Lam
courtesy of mingpao.com
Cavalia held its first show last night. Miriam Yeung Chin Wa, Karena Lam Ka Yun, George Lam Chi Cheung and Sally Yeh (Yip Sin Man) were among the guests. Lam Ka Yun revealed that earlier she guest starred in Nick Cheung Ka Fai's horror film MASTER FAT (TOR DEI KUI MOR YUN). She stated that she really admired Ka Fai. Although acting and directing were tough, he still put a lot of effort into them. Would she like to direct? She said no, because she was still lacking in her acting part, she still had a lot that she needed to learn.
courtesy of singtao.com
Sean Lau Ching Wan and Michelle Ye (Yip Shuen) earlier attended their new film INSANITY (FUNG BO YU)'s Shanghai premiere. Ching Wan was nominated for Hong Kong Film Award Best Actor with this film. Huang Xiaoming did not receive any nomination. He felt bad for Xiaoming. "Everyone can only see Xiaoming's pretty face and think that pretty boys can't act. Actually his character is harder to play than mine."
Lead actress Yip Suen revealed that she only had one scene, in which Ching Wan tossed her off a building after domestic abuse. She revealed that she only took such a role for Ching Wan. Speaking of Ching Wan's Best Actor nominations after hitting Yip Suen in both OVERHEARD 3 and INSANITY. Yip Suen said, "Next time how about I hit you?" Ching Wan gladly replied, "You can even kill me!"
Tuesday March 31, 2015 Hong Kong
It was a rare chance that Julian Cheung (張智霖) and Aaron Kwok (郭富城) had some break from working. In the evening (24 March), they invited their good friend, Shen Jiawei (沈嘉偉) and others for Teochew (潮州) cuisine as dinner in Sheung Wan (上環). They left together at 10pm and Aaron Kwok was the first one to appear at the exit. Aaron immediately showed his displeasure upon receiving a traffic fine for his sport car. He said: "I know I receive a traffic fine and the staff had told me about it." He then boarded his car and left. Julian was the next to leave and appeared friendly upon discovering the reporters' presence. Julian disclosed he was given a break from filming in Macau and decided to meet his friends for dinner instead.
Source: ON.CC (HK)
Translated by: tvfan @ Asian E-News Portal
Apr 01 2015
Tuesday March 31, 2015 Hong Kong
The finale of the series, Eye in the Sky (天眼) starring Ruco Chan (陳展鵬) as the main lead was broadcasted last Friday. In the series, he acted as an evil villain and received praises for his outstanding performance. During the interview, Ruco said with modesty: "Hope the audiences will learn on how to become a better person and know how to differentiate between right and wrong. (Any confidence to become TV King same as Roger Kwok (郭晉安)?) Acting as villain may not win an award and Roger is based on his accumulative efforts. He puts in lots of efforts and has extensive acting experience than me. I do not become TV King before and hope I can get it. Being nominated is already contented for me as it proves you have the ability. Also, it means you are not dead and remains competitive."
Source: Ming Pao (HK)
Translated by: tvfan @ Asian E-News Portal