MTVS CEO Yossi Strugo: Linking up with Keshet is critical for the channel's survival and for the promotion of Israeli music and culture.
Sources inform ''Globes'' that Channel 2 franchisee Keshet Broadcasting Ltd. is about to acquire 40% of the cable Music Channel, on channel 24, from Meimad TV Studios Ltd. (MTVS). The sources added that the agreement has been sent to the Antitrust Authority for approval, after which it will be sent to the Second Television and Radio Broadcasting Authority. The deal can be finalized only after approval from both regulators.
MVTS CEO Yossi Strugo confirmed the report. He said in response, "The Music Channel is one of the two single designated channels that has gone on the air. Despite its success, it is suffering from many changes in its business and regulatory environment that jeopardize its existence. Linking up with Keshet is critical for the channel's survival and for the promotion of Israeli music and culture."
Published by Globes [online], Israel business news - www.globes-online.com - on September 14, 2008
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