Chapter 339: TVB Television License Secured
"Yang Sheng, that's Li Haohuo over there," Qin Zhiye said, pointing to a man in his early fifties ahead of them. "The Li family owns a large number of street-front properties in Causeway Bay. Entire streets practically belong to them."
He continued, "I've spoken with Zheng Sheng about it before—in Causeway Bay, the Li family are the true land kings. Even Hongkong Land can't compete with them."
Yang Wendong nodded. "After all, they were once one of Hong Kong's Four Great Families. It makes sense they have some deep foundations."
When people talk about Hong Kong's "Four Big Families," most think of the four major conglomerates led by figures like Li Ka-shing. But back in the 1930s, there were actually four prominent Chinese families: the Chow Yung-tai family, the Ho Kai-tung family, the Lee Pui-chai family, and finally, the Lee Hysan family.
After the war, these families mostly kept a low profile. Their founders had either passed away or grown old, and their second or third generations could only maintain the status quo—they didn't have the founding generation's capabilities.
Lee Ming-tak and Li Haohuo were now the heads of the Li family. With inherited wealth, they owned massive real estate holdings in Causeway Bay, operated a large soda factory, and served on the boards of companies like British American Tobacco Hong Kong, Cathay Pacific Airways, and the Shanghai Commercial Bank.
"That one over there…" Qin Zhiye continued, introducing other figures at the event. There were major Chinese business magnates as well as representatives from large international media conglomerates.
At that moment, Li Haohuo approached and smiled. "Yang Sheng, it's an honor to finally meet you."
Yang Wendong nodded politely. "I've heard the Li family's name for a long time."
Of course he had—this was the family of the infamous "opium kings."
There were all kinds of businesses in this world. Yang Wendong didn't look down on any honest trade, not even manual waste collection—so long as it made money. But some things crossed the line.
In fact, Lee Hysan had later been shot dead in the street—a fitting twist of fate.
Li Haohuo smiled again. "Yang Sheng, would you consider letting me have the television license? If you agree, my brother can offer partnership opportunities with your company in our Causeway Bay properties. I guarantee you won't lose out."
"You're joking, Li Sheng. There are several groups bidding for this license," Yang Wendong replied calmly. "Are you making the same offer to everyone?"
Li Haohuo shook his head. "No, only you. I'm not concerned about the other five. They all want the license for economic reasons. But from what I've observed, you're like me—you see more than just money in this.
So when the bidding begins, it'll likely come down to just the two of us. Rather than letting the government benefit from our bidding war, why not join forces?"
"Since you already believe I'm not doing this for economic gain, why would I accept such a deal?" Yang Wendong countered.
After a short silence, Li Haohuo said, "Then what if we partner up after the license is won? I could invite you to become a shareholder."
"I'm not interested in shares," Yang Wendong replied with a slight smile. "What I want is full management control. Can you give me that?"
"..." Li Haohuo furrowed his brow. "So there's no room for negotiation?"
Yang Wendong shook his head. "Let's see how the bidding plays out."
"Fine," Li Haohuo said, realizing he wouldn't be able to change Yang Wendong's mind. He backed off.
Soon, the auction officially began. However, the first phase wasn't about price—it was a meeting between several government officials and representatives from the seven bidding consortiums to discuss the future operational model of the television station.
For the Hong Kong government, the sale price of the license wasn't the most important part. More crucial was ensuring that all participants agreed to the operational framework beforehand.
If the bidding parties agreed, they could proceed. If not, they would be disqualified. Still, there was room for negotiation on some non-core issues.
The discussion lasted over two hours and covered everything from legal restrictions, ad content integrity, news freedom, intellectual property protections, government image management, and corporate social responsibility.
This greatly frustrated some of the overseas bidders, especially the British media group. Even they felt the process was overly restrictive.
By the end of the debate, the American and Japanese consortia withdrew. That left five contenders, all of whom agreed to the government's terms. Minor details could be further negotiated later.
After a simple lunch and an hour's rest, the bidding resumed at 2 p.m.
Starting bid: HKD 2.6 million.
Yang Wendong didn't bid right away. Instead, he watched as the other bidders slowly increased the price.
By the time the price hit HKD 4.1 million, only two bidders remained: Li Haohuo and the British Independent Television Company. Eventually, the British group also dropped out.
"HKD 4.2 million," Yang Wendong raised his hand calmly.
This wasn't a property auction, so procedures were simpler. No placards, no complex protocols. With just a few players left, verbal bidding was enough. Each bid had to increase by at least HKD 100,000.
Li Haohuo frowned and raised his hand. "HKD 4.3 million."
"HKD 4.5 million," Yang Wendong said firmly, adding pressure. In auctions, sometimes aggressive bids could actually save money by deterring others.
Li Haohuo paused briefly before raising again. "HKD 4.6 million."
"HKD 4.8 million," Yang Wendong said without a trace of emotion.
Just as Li Haohuo was about to raise again, a man beside him tugged on his sleeve and whispered, "Second Brother, Big Brother set a hard limit on the budget. If you keep pushing, we'll not only exceed that but risk offending Yang Wendong. That wouldn't be good for our family."
"But I don't want to give up the TV station," Li Haohuo whispered back.
"Our family may not be able to match Yang Wendong's resources," the man replied. "If we keep fighting and still lose, we'll make an enemy and lose face. It's clear he's determined to win this."
"But..."
"And even if we miss this one, the government might issue a third license down the line. This time, Rediffusion couldn't bid again, and next time, if Yang Wendong wins today, he likely won't be allowed to bid either. So why fight now? There's no benefit."
"...Fine," Li Haohuo muttered, frustrated but ultimately convinced.
With no further response, the auction official asked one final time, and then brought down the gavel. "HKD 4.8 million, final bid. The Hong Kong wireless television license goes to Changxing Media."
Clap clap clap! Applause broke out.
Several people came over to congratulate Yang Wendong and Qin Zhiye. Both men responded politely.
Meanwhile, Li Haohuo left without a word, his entourage following him. Outside, he sighed, "No idea when the government will issue another license."
"I told you Yang Wendong wouldn't give up," said the man beside him. "A TV station is essential to his business model. You didn't listen, and all you did was drive the price up by at least HKD 200,000."
"HKD 200,000 is nothing to Yang Wendong," Li Haohuo replied dismissively. "He's not petty enough to hold a grudge over that. In real estate auctions, people overpay by millions all the time."
"True," the man said. "But if you had kept going just now, you might've made an enemy."
"Let's head back," Li Haohuo said. "If we can't get a license in Hong Kong, I'll try in Southeast Asia."
"You're really that obsessed with running a TV station?"
"Yes," he said firmly. "I want one. No matter what."
After dealing with the other business leaders, Yang Wendong and Qin Zhiye sat down with Hong Kong government officials to discuss future cooperation. The payment would be made in installments.
Back in the car, Yang Wendong said, "As planned, immediately begin procurement of the signal equipment from the U.S. Start construction on the broadcast tower as well. I want this television station operational within a year."
Historically, TVB won the license in 1965 but didn't begin broadcasting until 1967. The two-year delay was never clearly explained—likely due to funding and logistical hurdles.
Normally, companies would wait until after securing the license to begin contacting manufacturers, identifying signal transmission sites, and ordering equipment—all costly steps that would be wasted if the bid failed.
But Yang Wendong had been dead set on winning the license. He had done his research in advance and was ready to place orders immediately upon winning.
"Yes, Yang Sheng," Qin Zhiye said. "As per the plan, the U.S. equipment will take about eight months to arrive. We've already selected the site for the signal tower. I'll negotiate with the government in the coming days to secure it. As for the tower materials, we've ordered them from Taiwan. They'll arrive in two months, and we'll begin construction right away."
"Good," Yang Wendong nodded. "Once the U.S. equipment arrives, there will still be calibration needed, right?"
"Yes," Qin Zhiye confirmed. "We'll have to test signal strength across Hong Kong. The American engineers have already visited and say everything looks feasible. Still, we'll need to verify it ourselves before launching.
Even if some issues can't be fixed immediately, we need to know about them in advance and plan accordingly."
"Alright. One year sounds just right," Yang Wendong said confidently.
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