Hong Kong broadcaster ATV in talks with another 'white knight' hoping to save station

Asia Television's days might be numbered, but that hasn't stopped another potential investor from expressing an interest in taking over the beleaguered broadcaster.

Tsui Siu-ming, a screenwriter and film producer who is also a veteran ATV employee, is in talks with the station's majority shareholder and de facto boss Wong Ching on acquiring his 52 per cent controlling stake.

News of Tsui's offer follows the revelation last week that private equity firm AID Partners was the previously anonymous "white knight" which had agreed to acquire a controlling stake in ATV. That agreement faltered when ATV lost its free-to-air television licence.

Tsui said he had raised more than HK$180 million to operate the station and would apply for a new licence after April 1 next year, the deadline for ATV to cease broadcasting after it was denied a licence renewal this month.

"This will be the best solution for the staff and the government," Tsui said from Beijing.

"I don't need the government to promise anything. I have no regrets even if this plan falls through," said Tsui, who worked at ATV as a director and producer for 19 years during its golden era in the 1980s and '90s. "Even if I can't resurrect the station, I could still ensure [its] honourable exit."

Tsui said his plan would allow staff members to keep their jobs and the government would not have to push RTHK to take over ATV's analogue spectrum.