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SCED speaks on ATV shareholding changes

Following is a transcript (English portion) of remarks by the Secretary for Commerce and Economic Development, Mrs Rita Lau, on ATV shareholding changes at the spring reception of RTHK today (January 30):

Reporter: Have you received the formal application regarding ATV's new investor and what is the latest situation?

Secretary for Commerce and Economic Development: In the past few days, I have been in contact with Mr Payson Cha, the major shareholder, as well as Mr Linus Cheung, the Executive Chairman of ATV. We have taken the opportunity to apprise ourselves of the current state of the development including a possible change in shareholdings. I have also taken the opportunity to explain to the ATV management that under the licence, any changes involving the shareholding structure will require a written submission from the licensee to the Broadcasting Authority for the appropriate approval. I have urged the ATV management to do it as soon as they are able. We will facilitate the processing of the application.

(Please also refer to the Chinese portion of the transcript.)

Friday, January 30, 2009