Channel 10 logo
Report: Businessman Yariv Elbaz in talks with Channel 10
Owners of financially struggling channel said to be negotiating with French millionaire. Deal may infuse channel with $32.8 million
French businessman Yariv Elbaz is negotiating a deal which will see him become one of the major shareholders in Channel 10, Yedioth Ahronoth reported Sunday.
Channel 10, Israel's second commercial channel, has been struggling with enormous debts, which may force it out of business.
Related stories:
Sources in the television industry said that the 35-year-old French millionaire was in "advanced negotiations" with Channel 10 owners Arnon Milchen, Ron Lauder and Yossi Merman.
A source close to the negotiations said that Elbaz "is looking to buy into the channel out of Zionist motives, not financial ones."
Should the deal come to fruition, Channel 10 will receive a much needed infusion of operating capital, to the amount of NIS 120 million (about $32.8 million).
Channel 10 declined comment.
