2016年CRI World's First Chinese-language TV Station to Shut Down（在线收听）

The provisional liquidators, the accounting firm Deloitte, is proceeding with plans to shutter the station and sack the remaining staff, as the $8 million HK dollar cash injection needed to keep the broadcaster running for the rest of the month has not been forthcoming.

Derek Lai is Deloitte's regional managing partner for China's southern region.

"Based on past experience, we are worried about further loss of creditors if ATV continues to operate because we haven't received any money yet. We don't want to see the end of programs because we are going to sack all staffers. "

ATV shareholders' representative Ho Tsz-wai is opposed to Deloitte's decision, and says capital has been raised to keep ATV alive.

"We have no confidence that Deloitte will use the money properly and reasonably. Investor Si Rongbin has prepared 5 million in cash, and we have another 5 million in check for ATV."

Programs are still running on its local and world channels.

ATV Senior program executive Philip Ching returns to the office on Friday morning.

"I have been working here for 53 years with great pleasure. It is a pity that this is my last day here. My heart is heavy. I can do nothing but accept the fact."

ATV has been in serious financial trouble for the past two years, having difficulty paying wages on time, and is being sued for more than $1.5 million HK dollars in unpaid rent and license fees.

The Hong Kong government has decided not to renew the broadcaster's license next month.

Hong Kong's Secretary for Commerce and Economic Development Gregory So has expressed regret over ATV's early closure.

"Radio Television Hong Kong has been tasked to fill the vacuum, but technology is not ready with analogue programming until around March 10th, so it could be a week without any signal. I hope the spectrum and properties can be handed over to other service providers effectively and as soon as possible."

It is reported that mainland entertainment company LeEco, formerly known as LeTV, has held initial discussions with ATV on the acquisition of its vast archives of news footage to preserve history in Hong Kong and the region.

Although overshadowed by broadcaster TVB in recent years, ATV did play a vital role in Hong Kong's entertainment industry back in its golden years, with the Miss Asia beauty pageant popular with millions of viewers across the region.

At the same time, ATV cultivated dozens of talents and widely-known celebrities, including Leslie Cheung, Kristy Yeung and Rosamund Kwan.

For CRI, this is Li Jing in Hong Kong.