Lauder to give Channel 10 NIS 30m farewell gift

Ron Lauder

Ron Lauder will transfer his shares to Channel 10 chairman Yosef Maiman and inject a final NIS 30 million before cutting his ties with the station at the end of the month.

The Second Authority for Television & Radio has intervened in the Channel 10 shareholders dispute. Sources inform "Globes" that Second Authority for Television & Radio CEO Shai Babad yesterday held intensive talks with the shareholders in order to reach an agreement.

Sources strongly believe that the talks have yielded results and that Ron Lauder will transfer his shares to Channel 10 chairman Yosef Maiman and inject a final NIS 30 million before cutting his ties with the station at the end of the month.

Because Maiman is prohibited from having more than a 51% holding in Channel 10, Lauder will only transfer half of his shares to him while depositing the balance with a trustee.

Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2013

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

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