Troubled Hong Kong broadcaster Asia Television Ltd. (ATV) is seeking HK$10 million (US$1.29 million) a month for a proposed programming deal with Hong Kong Television Network Ltd. (HKTV).
HKTV earlier proposed to split advertising revenue, with a minimum of HK$5 million going to ATV each month, Ming Pao Daily reported Tuesday.
In exchange, ATV will air HKTV programs for four hours during prime time.
ATV responded to the offer by Monday’s deadline.
The station’s counter-proposal calls for three hours of HKTV prime time programs and revenue sharing from advertising, with ATV getting a HK$10 million guaranteed minimum each month, the report said, citing ATV executive director Yip Ka-bo.
That will give ATV more than HK$100 million in the remaining months of its licence after the government decided earlier this month not to renew it.
Yip said ATV needs at least HK$20 million a month to sustain its operations, adding HKTV’s estimates of advertising income from its proposed 7 p.m. to 11 p.m. time slot are quite high.
He said ATV’s prime time advertising revenue had been HK$10 million a month until it shrank to HK$5 million in recent years.
On Monday, the two sides said in statement that they had agreed to extend the deadline for a final deal to April 27, but HKTV did not respond to Yip’s comments.
Meanwhile, the Office of Communications Authority said it upheld its decision to withdraw ATV’s license after a review of its renewal application.
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