TNAG-1078-FCO40-1328-Policy-of-the-Hong-Kong-Government-on-television-services-1981 — Page 66

VERNON

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And that sort of philosophy of course applies

appropriately to the mining industry because the

mining industry is of necessity a very long term commitment and we always talk in terms of 10,

20 or 30 years and always take a long term view.

WATT

It is important to remember that as recently as March

1979 we had a statement from RTV (backed by Rediffusion, London) about their long term commitments in Hong Kong. It was partly based

on this, that the licence was renewed.

If you. come in as major shareholders you are taking

over this commitment. You are taking over this

commitment to long term confidence in RTV.

Are you prepared to stay with RTV despite possible losses which may continue during the next 3 or 4

years?

VERNON

We are certainly taking the long term view,

but I guess nobody would give a commitment that we would stop there forever irrespective of how

severe the losses were.

SCOTT

We could not give you that, either.