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Tucows Inc. Message Board

dee_ocotillo_man 23 posts  |  Last Activity: Apr 27, 2015 10:39 AM Member since: May 20, 2000
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  • Reply to

    Proposal date extended to April 27th.....

    by dee_ocotillo_man Apr 20, 2015 9:39 AM
    dee_ocotillo_man dee_ocotillo_man Apr 27, 2015 10:39 AM Flag

    Looks like no agreement with ATV, HKTV put out a press release today stating........

    "..... no agreement or agreement in principle or understanding has been reached between the parties with regard to the Proposal. Accordingly, the Company confirms that the Proposal has lapsed at 17:00 on 27 April 2015".

  • There have been quite a few developments with HK broadcast companies lately, most of these developments have excluded HKTV. It would be nice if Ricky were allowed to play in the sandbox too. He was at the playground before everyone else was, submitting an application before PCCW and I-Cable did and actually produced programs and proceeded to build an infrastructure. (I wonder if ATV will reach a decision Monday on letting HKTV programs broadcast on ATV's channels).

    (This was posted on The Standard website today)....

    Ricky Wong demands new TV license at the earliest after court ruling

    Hong Kong Television Network Chairman Ricky Wong Wai-kay welcomed the court ruling today ordering the Executive Council to reconsider its decision to reject a license to the station in October 2013.
    “Thank you for the court’s judgment. I believe that colleagues of HKTV would share the same happiness and excitement with Hong Kong people. From the very beginning, HKTV embraced a simple mission to bring more free entertainment to Hong Kong people, thus reducing grievance, conflicts and confrontation. I sincerely wish that the Chief Executive in Council can re-consider HKTV’s application, and to approve the new license at the earliest,’’ Wong said in a statement.”
    High Court Judge Mr Justice Thomas Au Hing-cheung said the government had not followed policy and ordered that HKTV’s “legitimate expectations,’’ be considered.
    The court quashed the decision of Exco in refusing to approve HKTV’s free TV license application.
    According to the open policy set out by the Government in 1998, there is no limit on the number of free TV licenses to be issued, Wong said in the statement.
    HKTV has been determined to bring happiness and high quality entertainment programs, supporting the development of local TV and creative industry.

  • Reply to

    Quashed

    by dee_ocotillo_man Apr 24, 2015 5:37 AM
    dee_ocotillo_man dee_ocotillo_man Apr 24, 2015 6:29 AM Flag

    (continued from SCMP).....

    The company was deprived of the chance to amend its application and had no opportunity to address in substantive terms the new approach of the government, it said.

    HKTV’s lawyer also claimed Secretary for Commerce and Economic Development Greg So Kam-leung had said that the Broadcasting Authority – now part of the Office of the Communications Authority – would recommend approving all three bids in March 2013.
    But two months later, Chief Executive Leung Chun-ying raised concerns about market competition at an Executive Council meeting, and the body eventually decided to only award two licences.

    The government had argued that it had the discretion to decide which broadcasting operators should receive a licence and there was no unfairness in refusing the HKTV’s application.
    It claimed the Broadcasting Ordinance provided the statutory powers to the Chief Executive in Council to make the final decision on the licensing issue. It said it had to consider the public interest and that it was reasonable for the body to adopt a “gradual and orderly approach” to issuing licences.

    The court heard previously that HKTV boss Ricky Wong Wai-kay was the first to apply for a free-television licence, on December 31, 2009. That was followed by iCable Communications and PCCW subsidiary HK Television Entertainment the following year.

  • Reply to

    Quashed

    by dee_ocotillo_man Apr 24, 2015 5:37 AM
    dee_ocotillo_man dee_ocotillo_man Apr 24, 2015 6:28 AM Flag

    (From SCMP).......

    A High Court judge today ordered the Executive Council to reconsider its decision to deny a the free-to-air TV licence to Hong Kong Television Network (HKTV) in October 2013, after ruling that the government had failed to follow the policy that stipulates there should be no limit on the number of broadcasting licences issued.
    Mr Justice Thomas Au Hing-cheung allowed the judicial review launched by HKTV and claimed the government’s decision failed to give effect of legitimate expectation to the television station.
    He quashed the government’s decision and remitted it back to the Chief Executive in Council for reconsideration.

    “The CEIC should have regard and take into account the police as constructed in this judgment and HKTV’s legitimate expectation,” Au wrote in the judgment.

    HKTV shares closed at 4pm on Friday 10 HK cents higher, or 3.32 per cent, to HK$3.11 before the court news broke.
    The government announced on October 15, 2013, that it would award licences to channels run by established players PCCW and iCable but not to HKTV.

    HKTV argued that the decision was unfair, citing the government’s 1998 policy that the broadcast market would be open to fair competition with no limit on the number of licences available.
    The station argued that the Chief Executive in Council had failed to seek the views and recommendation of the Communications Authority and failed to provide adequate reasons for the decision to refuse HKTV a licence.

  • dee_ocotillo_man by dee_ocotillo_man Apr 24, 2015 5:37 AM Flag

    Favorable ruling by judge on HKTV case...

    "On 24 April 2015, the Court of First Instance of the High Court of the Hong Kong Special
    Administrative Region allowed the abovementioned judicial review and quashed the
    abovementioned decision of the Chief Executive in Council and remit it back to the Chief
    Executive in Council for reconsideration". T

    Mr Justice Thomas Au Hing-cheung allowed the judicial review launched by HKTV and claimed the government’s decision failed to give effect of legitimate expectation to the television station.

  • Reply to

    Proposal date extended to April 27th.....

    by dee_ocotillo_man Apr 20, 2015 9:39 AM
    dee_ocotillo_man dee_ocotillo_man Apr 21, 2015 4:06 PM Flag

    Ricky should pony up the $HK10 million a month if that is the only thing holding a deal up, it may be the only chance HKTV will get to broadcast it's programs to most of Hong Kong. But this is looking more and more like it could be a partnership of the "have nots". I noticed that a new "consortium" has applied for a "Free TV" licence in Hong Kong. This consortium has "mainland" connections so I would guess they get approved while Ricky does not.

    "A consortium led by the son of the late "Father of ATV" Deacon Chiu Te-ken has applied for a license for a free-to-air television station, promising to lead people into a new era of viewing.
    David Chiu Tat-cheong's Forever Top (Asia) consortium, which includes two mainland entities and co- chairwoman of MGM China Holdings Pansy Ho Chiu-king, pledged to invest HK$3.2 billion in the first six years of operations on facilities and productions".

    They have an article about this posted today on "The Standard" website.

  • dee_ocotillo_man by dee_ocotillo_man Apr 20, 2015 9:39 AM Flag

    HKTV put out a press release regarding the ATV proposal......

    "The Company confirms that Mr. Ip Ka Po, an executive director of ATV and Mr. Wong Wai
    Kay, Ricky have been in contact in today afternoon with regard to the Proposal, and that the
    Company received written response from ATV in today afternoon showing interests in
    discussing the Proposal with the Company.
    Saved as disclosed above, as at the date of this announcement, neither the Company nor its
    representatives has entered into any discussion or negotiation in relation to the Proposal with
    ATV, its shareholders, or the Joint and Several Managers of ATV appointed by the High Court
    of Hong Kong Special Administrative Regions and no agreement or agreement in principle or
    understanding has been reached between the parties with regard to the Proposal.
    In the light of ATV’s written response aforesaid, the Company will continue to evaluate the
    situation and the Company confirms that the validity of the Proposal will be extended to 17:00
    on 27 April 2015".

    I know ATV doesn't want to help Ricky in any way but I guess there is still hope. Nobody watches ATV, why not give Ricky's proposal a try? ATV ratings have been in the toilet for a very long time, why resist change?

  • Reply to

    HKTV News Release

    by kohsuke538 Apr 13, 2015 9:59 AM
    dee_ocotillo_man dee_ocotillo_man Apr 16, 2015 9:38 AM Flag

    Found on SCMP that ATV boss Ip Ka-po is not too keen on Ricky's offer. In his blog he called the offer “questionable”, said media reports showed the number of hits registered for HKTV programmes aired online had decreased recently and wondered "how will the audience ratings be? Will these shows be able to attract enough advertising to cover the fee to use the channel?” Ip called the monthly HK$5 million guaranteed by HKTV as a fee for using ATV to air its shows was “low”.

    He said these were his personal views and ATV’s board of directors and shareholders would decide on Wong’s offer. He said ATV was in talks with other parties on partnership in its programmes.

    So HKTV will probably not get he answer it wants by 5 PM Monday (April 20th). HKTV released their 2014 annual report yesterday. Not much to read, the future of the company more or less lies in the hands of others. I don't think Ricky wants to give up on free TV but if by the end of 2015 he doesn't get any favorable judgements in court or from the Communication Authority I hope he doesn't drag this out much further. Maybe the HKTV Mall results will surprise in 2015 but I don't think even Ricky is expecting that.

  • Reply to

    HKTV News Release

    by kohsuke538 Apr 13, 2015 9:59 AM
    dee_ocotillo_man dee_ocotillo_man Apr 13, 2015 4:00 PM Flag

    With all the unpaid ATV salaries it would seem ATV should accept the offer to save face with the HK people. The HK$5 million a month plus 50 percent of any advertising revenue would certainly have an immediate positive impact. The only reason for ATV to reject the offer would be if they thought cooperating with HKTV hurts ATV in any plans ATV might have in broadcasting, since it is essentially HKTV bringing forth the new programming so why not just give HKTV the licence? I hope ATV does the right thing (for once) and accepts Ricky's offer.

  • Reply to

    RTHK not ready to fill void left by ATV

    by dee_ocotillo_man Apr 7, 2015 8:48 PM
    dee_ocotillo_man dee_ocotillo_man Apr 13, 2015 9:56 AM Flag

    HKTV released some news today. They have proposed (to ATV) broadcasting HKTV produced programs on ATV Home Channel 1 and digital channel 11. Nothing agreed upon yet, just a proposal.

  • dee_ocotillo_man dee_ocotillo_man Apr 12, 2015 12:07 PM Flag

    I don't think FKWL actually paid for the shares. The last 10-Q (in regards to "the Agreement") they stated,

    "The repurchase of the remaining 1,566,672 shares has not been completed. We have provided formal notification to C-Motech that it is in breach of its obligations and we have also provided a demand to sell the shares back to us. We have attempted to tender payment for the shares without results, and we are unable to determine whether or not this repurchase will take place. We have been advised that there are two individuals who claim to have purchased the shares from C-Motech through its former CEO; however, the authority of the former CEO to agree to the sale of the shares is being disputed by C-Motech. It is our understanding that this matter is currently being adjudicated in U.S. and Korean courts. As of the date of this Report, C-Motech is the registered owner of certificates representing 1,566,672 shares, which were issued by the Company in C-Motech’s name".

    Now we know what the court has decided, C-Motech doesn't own the shares, and the repurchase agreement can't be completed with them. Maybe that is a mild negative, it would have been nice to buy those shares for about $1.05 a share. (With C-Motech in BK, my bet is the deal would have gone thru, it would help others recoup their losses). A big negative would be if these two individuals were aligned with FKWL insiders in a future "going private" deal that would take FKWL private at a cheap price. I am probably being very paranoid with the whole "going private" deal, but the whole concept that these 2 guys could buy these shares and it is OK in a court of law strikes me as very odd.

  • dee_ocotillo_man dee_ocotillo_man Apr 10, 2015 10:01 AM Flag

    What I gather from the ruling is that the two plaintiffs, CHENG-JI ZHU and OK-NAM YUN, have been found to own the shares in question, not C-Motech. And that THEIR attorney, "John Y. Lee, representing the Plaintiffs in this action, has physical possession of the stock certificates that were purchased by the Plaintiffs, and is now free to deliver the stock certificates to Plaintiffs or to the stock transfer agent".

    I don't know if I am reading it wrong but I don't think it addresses anything regarding the purchase agreement FKWL had with C-Motech. So maybe that deal to purchase 1,566,672 shares for $1,626,935 from C-Motech is now voided. Maybe the plaintiffs have to sell those shares to FKWL, but I didn't see a mention of that. I'm not a lawyer, I am probably wrong.

  • dee_ocotillo_man by dee_ocotillo_man Apr 7, 2015 8:48 PM Flag

    (Given the fact that that RTHK doesn't "feel ready" why continue to deny HKTV, a company chomping at the bit to get a chance. It's been almost a year since HKTV submitted it's second freeTV application, still no word from the Communications Authority).

    (This was in today's Weekly Standard.....)

    RTHK `not ready' to fill void left by ATV

    RTHK's frontline staff do not feel ready to take over Asia Television's analogue broadcasts, the station's City Forum host says.
    Joseph Tse Chi-fung said RTHK needs more time, particularly to assemble the necessary hardware. Tse said news of RTHK taking over ATV came too abruptly, as the station cannot support 24-hour broadcasting.

    "The decision came very suddenly, the whole station had no idea about the mission," he said, adding that it takes time to prepare for production, including things such as manpower, equipment, ideas and budget.

    Tse previously said when RTHK applied to the Legislative Council for funding to set up a new building and purchase new equipment, it stated at the time it needed six to eight years.

    He said yesterday the station's new channels 31, 32 and 33 are still at the trial broadcasting stage, and repeats certain programs.

    Asked how RTHK will handle 24-hour broadcasting, Tse said it will be difficult. "We really have no idea," he said, adding the station will work on it, but needs time to set up policies.

  • Wow, back to back press release days for Franklin. This one is about Weird Al's "Another One Rides the Bus"....

    Franklin Wireless.........announced that it is developing a Bus Information System (BIS) that is currently being tested in two countries. ….represents a full end-to-end IoT (Internet of Things) solution and includes both hardware and software engineered by the Company.....system allows bus companies to track and manage their bus fleets and provides information to bus riders. Bus companies can monitor in real-time the speed and location of each bus in their fleet and view live streaming video from video-enabled black boxes positioned in various locations within the buses. A unique feature of this new BIS that sets it apart from similar solutions is that it extends beyond remote monitoring and actually allows for two-way communication between the control center and each bus.

    "The new Bus Information System currently under development by the Company is our first foray into the IoT and represents a full end-to-end hardware and software solution," said OC Kim, president of Franklin Wireless. "This is an important milestone for the Company as we expand beyond hardware devices and into full software and hardware solutions for the IoT and M2M."

    It is pretty encouraging that Franklin is actually doing something and telling shareholders about it. Maybe there is hope of massive capital gains here.

  • Maybe this is the open door HKTV will enter thru, it seems the "Executive Council" will let ATV's license expire in November. It makes sense for them to do this, it also makes sense to give HKTV a license.

    "The Executive Council has decided not to renew the license of Asia Television after it expires on November 30. The broadcaster has confirmed the decision on its webpage. That means some 700 employees will be out of a job.
    It is surprising that the Chief Executive and the Executive Council still decided not to renew ATV's license, despite the fact that new investors have been confirmed, the cash-strapped broadcaster said in a statement. It may consider legal action, according to the statement.
    According to the Broadcasting Ordinance, a TV station must be given a 12-month notice if its license is not to be renewed".

  • Reply to

    Betting Time

    by kohsuke538 Mar 31, 2015 2:03 PM
    dee_ocotillo_man dee_ocotillo_man Mar 31, 2015 3:59 PM Flag

    It will be interesting to see how this trades in Hong Kong tonight. I had some spare cash and bought some more shares of HKTV just now, hard to find anything interesting to invest in these days. HKTV has always been very good to me over the years, we will see if that continues.

  • dee_ocotillo_man by dee_ocotillo_man Mar 31, 2015 8:03 AM Flag

    I think it has come up before but there is a new rumor that Ricky Wong has purchased an interest in ATV. I don't think anything "official" has been declared but I found an article entitled "HKTV's Ricky Wong to buy ATV controlling stake" posted online. The article stated

    ......Major shareholders of ATV, the financially troubled Hong Kong television broadcaster, are said to have agreed to sell their stakes to HKTV (01137.HK) chairman Ricky Wong Wai-kay.
    Wong Ben #$%$ and Wong Ching have notified ATV’s management that they accepted an offer from Ricky Wong to buy controlling stake in the free-to-air broadcaster, according to an evening news bulletin on ATV.
    Under the deal, Wong Ben #$%$ and Wong Ching will take “haircuts” on most of the debts that are owed by ATV to the duo, the report suggested.
    The report did not disclose more details about the transaction, which will require approval from the court and the firm’s trustees, as well as Hong Kong’s Communications Authority.....

    I guess we will wait and see.

  • dee_ocotillo_man by dee_ocotillo_man Mar 30, 2015 9:28 AM Flag

    Alex Lo wrote an opinion piece for SCMP entitled "Turn off ATV and turn on HKTV", which to me is stating the obviuos. In the article Lo wrote

    "In two rounds of licensing decisions, local regulators made complete fools of themselves. First, they allowed a financially and intellectually bankrupt TV station to continue. Then they granted new licences to two subsidiaries of i-Cable Communications and PCCW without ascertaining when they would start to provide free-to-air services. So far, both have little or nothing to show for it.

    Meanwhile, the one station, Hong Kong Television Network, that actually committed investment, hired hundreds of people - subsequently forced into redundancies - and produced actual new programmes was rejected".

    HK courts have reserved judgement to be handed down in both of HKTV's court cases, and HK Communication Authority has not only been dragging it's feet on granting HKTV a license but has been an impediment to HKTV. As Lo ended his article, kill ATV now and give the licence to HKTV.

  • dee_ocotillo_man by dee_ocotillo_man Mar 13, 2015 1:48 PM Flag

    The Hong Kong Broadband Network (HKBN) that Ricky helped build (and sold a couple years ago to pursue his "TV dream") is now a publicly traded company. The stock code is 01310 on the Hong Kong exchange.

  • Reply to

    Fortunes made,

    by scatbacker Mar 13, 2015 12:19 PM
    dee_ocotillo_man dee_ocotillo_man Mar 13, 2015 1:37 PM Flag

    I remember buying shares of Western Canadian Coal (WXJXF) back in December 2008 for about $0.45 a share. Found out soon after that I would be losing my job in May 2009. Sold those shares in January 2009. Walters bought out Western Canadian Coal for $11.50 a share in December 2010, which would have been a 2000% return on my investment. To this day I think about the money I would have made on those WXJXF shares. Now I wonder if history is repeating itself. (But for now I have the feeling it isn't as I haven't bought any WLT).

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