The Israeli Media Group RGE has announced the acquisition of Channel 10. This entertainment channel, one of only two private channels in the country, has been facing considerable financial problems since 2011. RGE has redeemed its debt of over 10 million shekel, to own a 51% stake. RGE also had to buy the broadcasting license for 15 years, at a cost of 50 million shekels. The decision now has to be approved by Israeli competition authorities.
Channel 10 is not the only Israeli channel with financial problems: Channel 2 has a deficit of 4 million shekels.
Sources: israelvalley.com et haaretz.com
