Lauder to sell Channel 10 stake to Yafit Greenberg

Yafit Greenberg will invest so that Channel 10 will be controlled by Israelis and can apply for a new license.

G. Yafit Ltd., owned by advertiser Yafit Greenberg, is in advanced talks to invest in Channel 10. Sources inform ''Globes'' that Greenberg left on Saturday night to New York with Channel 10 executives to meet the company's dominant shareholder, Ron Lauder, where they will present the television station's strategy under a license from 2014.

Channel 10 is at a critical stage, and must apply for a broadcasting license within a month. However, a dispute between its shareholders is jeopardizing the application, because Arnon Milchan wants to quit the company in exchange for a refund of his investment in it, and refuses to sign the application unless his conditions are met.

Milchan's position makes it impossible for Channel 10 to obtain a license, because the company must be controlled by Israelis, and Lauder is not an Israeli citizen. Lauder will therefore reportedly sell part of his stake to Yafit Greenberg, in order for Channel 10 apply for a license, and the deal may later be expanded to include Milchan.

Greenberg may face regulatory obstacles to invest in Channel 10, because she is owner of G. Yafit, which includes advertising and public relations firms. She also owns real estate and other investments, and is known to the public for product endorsements on television.

Channel 10 and G. Yafit were unavailable for comment.

Published by Globes [online], Israel business news - www.globes-online.com - on November 17, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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