Chapter 463 The Largest Fine in Hong Kong's History
"90% viewership?" Lin Haoran was also surprised upon hearing Shao Yifu's words.
He knew that his speech on Jade Channel would certainly boost the channel's ratings considerably.
But after delivering the speech, he had no idea how much of the audience would stay for the rest of the evening's programming.
Now, learning the final ratings figure for TVB, even Lin Haoran was astonished—it had far exceeded his expectations.
Did this mean practically no one had watched RTV the previous night?
"This is all thanks to you, Haoran. Without your brilliant appearance, there's no way Jade Channel's ratings would have soared like this.
It looks like our ad revenue this month is going to skyrocket again.
As for RTV, they've been losing money month after month; at this rate, they might follow Commercial Television into history.
If they can't survive, they might have to shut down completely—and then, TVB would truly dominate Hong Kong's television market!" Shao Yifu laughed heartily.
A few years ago, Hong Kong had three competing television stations, but Commercial Television had gone bankrupt in 1978 due to poor management.
In Shao Yifu's view, RTV, the oldest station in Hong Kong's television history, seemed to be headed down the same path.
If RTV couldn't turn things around, closure might soon become inevitable.
Hearing this, Lin Haoran smiled and said,
"Sixth Uncle, you shouldn't get your hopes up. Television, unlike print media, has a much stronger influence on public opinion.
The Governor's Office would never allow us to monopolize the industry.
Moreover, with television licenses frozen, even if RTV's parent company no longer wants to operate, they would most likely sell it off rather than shut it down."
Lin Haoran knew that RTV would later be renamed Asia Television and would continue to exist at least until the 21st century.
Upon hearing this, Shao Yifu's excitement faded slightly, and he nodded thoughtfully.
"You're right—I was being too optimistic.
The Governor's Office certainly wouldn't want TVB to be the only television station.
They see competition between stations as a way to maintain control over Hong Kong."
"And if RTV collapses, someone else will buy it, inject new capital, and create a stronger competitor for us—just like when we had three stations.
Back then, TVB's monthly operating expenses were much higher to fend off competitors and keep our viewership."
He sighed, realizing they needed to prepare for renewed competition.
Meanwhile, outside, TVB's evening news proudly broadcast the previous day's ratings.
For six straight minutes, they showcased TVB's "glorious moment."
Just as Shao Yifu had anticipated, the news of TVB surpassing 90% viewership instantly shocked the whole of Hong Kong.
Everyone knew what it meant:
RTV's New Year's Eve Gala had garnered less than 10% viewership!
The stark contrast laid bare the vast gap between TVB and RTV—like a heavy hammer striking the morale of RTV's management team.
At RTV headquarters, the atmosphere was grim.
Employees stared at each other in disbelief and fear.
Anxiety quickly spread.
The memory of Commercial Television's collapse was still fresh in their minds.
Now, they couldn't help but fear for their own jobs.
"Could RTV really be finished?"
Such thoughts took root and spread like wildfire among the staff.
"If we lose our jobs, where can we go?"
Given that there were only two stations in Hong Kong, opportunities would be extremely limited.
If RTV shut down, everyone would rush to join TVB, making competition fierce.
Those who moved early would have the best chance of getting hired.
Meanwhile, at Rediffusion's parent company in the UK, executives were equally stunned by the dismal ratings.
The New Year's Gala had been a major investment, carefully planned and executed with London's approval.
Yet despite the effort and expenditure, they had achieved almost nothing.
This latest failure left them utterly disheartened.
The idea of selling RTV, which had already been circulating among executives, now became a near certainty.
It seemed pointless to keep propping up a loss-making operation.
In fact, in the alternate timeline, Rediffusion did sell its 61% stake in RTV to an Australian consortium in March of that year.
Over the next year or so, ownership shifted again, eventually landing with Far East Consortium's Deacon Chiu and later with Lim Por-yen's Lai Sun Group in 1988.
Every time ownership changed, it sparked fresh waves of competition.
While TVB's record-breaking ratings dominated the city's chatter, another issue loomed even larger in people's minds:
How would the Governor's Office punish Jardines Matheson?
After all, shutting down three newspapers was one thing—they were mere accomplices.
The real culprit was Jardines Matheson.
Everyone waited anxiously for the Governor's Office to announce its verdict.
Lin Haoran paid close attention too.
On the morning of January 4th, he received news:
Henry Keswick had arrived in Hong Kong.
There was no need to guess—Henry was here to handle Jardines Matheson's crisis.
However, this was no longer something Lin Haoran needed to get involved in directly.
The Governor's Office had suffered the greatest losses.
That night, Lin Haoran received word that Henry Keswick had entered Government House with his team for negotiations.
The outcome of those talks was beyond Lin Haoran's intelligence network.
Time swiftly moved to January 5th.
Over the past few days, despite the public uproar, the Governor's Office and the Department of Justice remained silent, revealing nothing.
Citizens began to believe the matter had been quietly dropped.
But unexpectedly, on the morning of January 5th, the Governor's Office issued a new public announcement:
Governor's Office Announcement
In light of Jardines Matheson's involvement in serious recent violations—including but not limited to market manipulation, bribery of media organizations, and harm to public interests—the Governor's Office, after thorough investigation and deliberation, hereby announces the following penalties:
Jardines Matheson is fined HKD 500 million.
The full amount must be paid within one month of this announcement as punishment for its unlawful actions and as a warning to other enterprises.Jardines Matheson must undergo comprehensive internal reforms to ensure future strict compliance with Hong Kong's laws and regulations, maintaining fair market competition and safeguarding public interests.
Their reform plan must be submitted to and approved by the Governor's Office.A special oversight committee will monitor Jardines Matheson's compliance.
Any violations will result in further severe penalties.Regarding Mr. Bautista, former executive director of Jardines Matheson:
He has been found directly responsible for planning and executing the misconduct.
Given that Mr. Bautista has fled Hong Kong, the following measures are enacted:Mr. Bautista is permanently banned from entering Hong Kong.The Governor's Office will cooperate with international law enforcement to pursue legal action against him, including extradition, prosecution, and asset recovery.
Governor's Office of Hong Kong
January 5, 1981
Reading the announcement, Lin Haoran couldn't help but feel astonished.
HKD 500 million fine?
This was clearly the outcome of Henry Keswick's negotiations with the Governor's Office.
The severity was almost unprecedented.
At that time, even among Hong Kong's listed companies, very few had market values exceeding HKD 500 million.
Now Jardines Matheson was being fined that staggering sum over a scandal.
This was the largest fine in Hong Kong's history—an absolute first.
Jardines Matheson had already been devastated by Lin Haoran's relentless strikes over the past few months.
Now, with this massive fine from the Governor's Office, it was like pouring salt on an open wound—stripping away even more flesh and blood.
Even Lin Haoran felt deeply satisfied.
By releasing the evidence publicly, he had used the Governor's Office's power to exact revenge—without lifting a finger.
Using others to strike his enemies:
It was, indeed, a masterstroke.
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