Channel 2 council decides not to extend the Channel 10 franchise after it expires in February 2010.
By GREER FAY CASHMANchannel 10 88(photo credit: )
After all the money that has been poured into Channel 10, it's possible that this branch of commercial television may fold and become no more than a memory.
This follows a decision by the Channel 2 council, headed by Nurit Dabush, not to extend the Channel 10 franchise after it expires in February 2010.
The council has decided to publish a new tender for Channel 10, to be issued within the next four to five months. However, with the mammoth losses and a NIS 100-million debt that the channel has incurred, it may be difficult to find new investors willing to operate it.
The decision is not 100-percent final, and the current shareholders - Yossi Meiman, who holds 51% of the stock, Ron Lauder with 25% and Arnon Milchen with 24% - will have an opportunity for a hearing before the axe falls and will be asked to explain why they have not met their commitments.
Meanwhile, Dabush intends to persuade Communications Minister Ariel Attias to support her move to amend the legislation relevant to Channel 10, to avoid repetition of some of the mistakes made by the first group of franchisees.
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