Lauder agrees to bail out Israeli TV Channel 10

By JTA
December 3, 2012 12:07

 
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American billionaire Ronald Lauder agreed on Sunday to bail out the financially troubled Israeli television station Channel 10.

Under the agreement signed with the State of Israel, the franchise for Israel's second commercial channel will be extended for three years and Lauder, the station's majority shareholder, will invest nearly $21 million over that time, the Israeli business daily Globes reported.

Channel 10's debt is equal to about $29 million, according to reports.

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