The struggling Israeli commercial station Channel 10 has been given new hope by the US billionaire Ron Lauder.
According to local reports, Lauder, who is a founder and shareholder in CME, a leading broadcaster in the CEE region, as well as a 25% shareholder in Channel 10, has offered to invest an additional NIS60 million (€11.9 million) in the latter.
However, this comes with the proviso that the State reschedules Channel 10’s loan repayments and that the station receives a permanent new licence.
Channel 10 faces the prospect of closure if it fails to pay off its debt by September 2.
