Digital Broadcasting Corp. (DBC), Hong Kong’s largest digital broadcaster, has decided to fold its operations due to apparent financial troubles.
The company said Monday that it will give up its operating license, RTHK reported.
DBC’s board made the decision as it felt that the development of digital broadcasting in Hong Kong has been unsatisfactory and there was not enough advertising revenue to support its business.
More than 110 staff will lose their jobs next month.
The broadcaster will continue airing programs until authorities give the clearance for it to cease operations.
RTHK cited the Commerce and Economic Development Bureau as saying that it has received DBC’s application, and that a decision will be taken by the Executive Council in due course.
DBC, which was founded by popular show host Albert Cheng in 2008, started broadcasting five years ago.
The company is now owned by mainland businessman Bill Wong, after Cheng left the broadcaster following a shareholder dispute.
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