Hong Kong Broadcaster TVB to Lay Off Dozens

Television Broadcasts (TVB), Hong Kong’s oldest commercial broadcaster, has begun laying off about 100 people as the company moves to become a new-media business.

A source told Variety that the job losses will mostly hit TVBI, the broadcaster’s international arm, though the unit is not loss-making.

TVB’s annual report showed that the company saw a dramatic decline in net profit last year, from $63.7 million in 2016 to $31 million in 2017. Overseas pay-TV operations saw a $6.8 million loss, down 32% from the previous year. But the source said overseas pay-TV is only a small part of TVBI, which also handles licensing and turns a profit.

Layoffs were considered likely as the 51-year-old broadcaster tries to transform itself from a traditional broadcaster into a new-media operation and streamline its resources.

TVB, which had 4,200 employees as of the end of 2017, has launched a range of new digital platforms and OTT services, including myTV SUPER and TVB Anywhere; the social media platform Big Big channel; and the e-commerce platform Big Big shop.

“There is a need to restructure or consolidate some of the departments with adjustment of manpower based on operational needs,” a TVB statement said. “The new structure will help reduce overlapping of functions, enhance flexibility in resources deployment and overall efficiency.”

More TV

  • MAKING IT -- Season: 1 --

    TV News Roundup: NBC Announces 'Making It' Season 2 Premiere Date

    In today’s TV news roundup, NBC announced the “Making It” Season 2 premiere date and HBO Max greenlit a new docuseries from Brad Goreski and Gary Janetti. DATES Hosts Amy Poehler and Nick Offerman will return with the second season of “Making It” on NBC Dec. 2. After the show’s holiday season premiere, the show [...]

  • Luis Fonsi Erika Ender Latin Grammys

    The Second Latin Explosion: How 'Despacito' Ushered in a New Generation of Stars

    Music is an ever-evolving art, and for the Latin Recording Academy, that’s meant riding multiple waves of attention. The most recent arrived with the stratospheric success of “Despacito,” which kicked off a second Latin Explosion with full force in 2017. The Luis Fonsi and Daddy Yankee hit, later featuring verses by Justin Bieber, made Latin [...]

  • TV Review: 'Catherine the Great' Starring

    TV Review: 'Catherine the Great' Starring Helen Mirren

    For some, “Dame Helen Mirren playing the Catherine the Great” is all the convincing they’ll need to watch this new biographical limited series, which is perfectly understandable. The casting of Mirren in the role, which follows the Russian empress in the embattled latter years of her life, is a smart choice that proves its worth [...]

  • Ricky Martin Celia Cruz Gloria Estefan

    From Idea to Legacy: Latin Grammy Awards Mark 20 Years of Global Recognition

    The idea of creating a separate organization to honor the diversity of Latin music was a discussion that took place for years before it actually happened, but an event driven by one of pop music’s most important crossover artists solidified it. During the 41st Grammy Awards ceremony, a young Ricky Martin was scheduled to perform [...]

  • Science Fair

    Disney Plus Fleshes Out Nonfiction Slate, Including 'Howard,' 'Science Fair,' Mickey Mouse Docu

    Disney Plus further fleshed out its nonfiction content slate at an International Documentary Association showcase event Friday, as the streamer, preparing for its Nov. 12 launch, continues to flesh out its programming strategy. Among the announcements: The streamer has acquired the global distribution rights to “Howard,” the Don Hahn-directed documentary about “Aladdin” and “Beauty and [...]

More From Our Brands

Access exclusive content