The RGE communications group yesterday announced the completion of its acquisition of control in Channel 10.
RGE will hold 51% of the shares in the channel, which has obtained a 15-year broadcasting license. Former controlling shareholder Yossi Maiman and Arnon Milchan still hold shares in the channel.
The RGE owners are Aviv Giladi, Len Blavatnik, and the Recanati family. RGE owns the Children's Channel and Sport 5 brands for cable and satellite broadcasting. Mudi Friedman is slated to become Channel 10 chairman.
"For us, the acquisition of the channel and the transition to a license for the coming 15 years are important steps for ensuring the channel's stability and the continuation of Israeli accomplishment and creativity," the group said. "We welcome the Channel 10 employees into the RGE family."
Published by Globes [online], Israel business news - www.globes-online.com - on July 2, 2015
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