The seller will get an option to sell an additional stake.
The Antitrust Authority has approved the acquisition of 45% of cable music station Channel 24 by Channel 2 franchisee Keshet Broadcasting Ltd. from Meimad TV Studios Ltd. (MTVS) and other shareholders. Keshet also obtained a three-year put option to buy up to an additional 44% of Channel 24, which if exercised in full, this will give Keshet an 89% stake.
The Antitrust Authority said, "This is a horizontal merger between Keshet, a franchisee of a commercial television station, and Channel 24, a designated cable channel, which has a license from the Council for Satellite and Television Broadcasting, and which is aired by multi-channel broadcasters, HOT and YES."
Published by Globes [online], Israel business news - www.globes-online.com - on October 29, 2008
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