HONG Kong's government has approved five new investors for Asia Television Ltd, the smaller of the city's two free-to-air broadcasters. A group, including ABN Amro NV, Payson Cha, Johnson Cha and Louis Page, was given the approval to take a 47.6 percent stake in ATV, according to an e-mailed statement from the government yesterday.

CITIC Group will take a 14.8 percent stake, the statement said, without disclosing the amount invested. ATV, controlled by Chief Executive Chan Wing Kee and Phoenix Satellite Television Holdings Ltd Chairman Liu Changle, is seeking investors to boost viewership and advertising sales against larger rival Television Broadcasts Ltd. ATV needs to spend HK$900 million on its new Tai Po headquarters, Senior Vice-president Kwong Hoi-Ying said yesterday.