ATV was Hong Kong's first TV station — HK$2.2B in debt, licence revoked, gone in 2016

Asia Television launched in 1957 as Rediffusion Television, the first television service in Hong Kong. For decades it was one of two free-to-air broadcasters, alongside TVB, commanding a significant share of the market. After 2000, under major shareholder Wang Zheng, the station replaced drama production with low-cost talk shows, driving away viewers and advertisers.

The decline accelerated into a financial crisis. ATV failed to pay wages repeatedly; by late 2014 it owed back pay from September, and the Labour Department issued 34 prosecution notices. In July 2011 the station's news department falsely reported the death of former Chinese leader Jiang Zemin, which the Communications Authority traced to Wang Zheng's unlawful interference. ATV was fined HK$300,000 for the false report and a further HK$1 million for the interference.

In April 2015 the Hong Kong government declined to renew ATV's broadcast licence, citing 'unsatisfactory' performance, 'clearly deteriorated' quality, and 'serious doubts' about its financial viability. The licence was extended to April 2016 for an orderly wind-down. In February 2016 the High Court appointed Deloitte as provisional liquidator. ATV signed off just before midnight on 1 April 2016, ending 59 years of broadcasting with debts of approximately HK$2.2 billion and HK$35 million in unpaid wages owed to 640 former employees.