A few days ago, former Channel 10 shareholder Ron Lauder signed an agreement to transfer his 50% stake in Internet portal Nana10 to television station Channel 10. He has cleared his entire stake in the portal seven years after Channel 10 acquired the stake.
Lauder is taking a paper loss on the deal. In October 2012, he acquired half of Nana10 for NIS 5 million from IDB Holding Corp. Ltd. (TASE:IDBH) unit 013 NetVision Ltd.. He made the deal through Jerusalem Capital Studies Ltd., and transferred the stake for nothing.
As part of the measures planned for Channel 10, it will have to review how to improve its synergy with the Internet portal. These steps included the appointment of Channel 10's new media director Danny Reicher as CEO of Nana10.
Channel 10 says that Nana10's management, under Reicher, will soon take more steps in the portal's restructuring and strengthen content, commercial, and promotional ties with Channel 10.
Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2014
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