Published On: Sun, Dec 15th, 2013

Ron Lauder to Leave Israeli Channel 10 By The End of This Month

Lauder has told the Board of Directors that if nobody buys his shares he will transfer them to a trustee within two weeks.
Ronald  Lauder / Photo  Doron Ritter

Ronald Lauder / Photo Doron Ritter

Ron Lauder has told Channel 10’s board of directors that he will leave within two weeks, and if nobody is prepared to buy his shares he will transfer them to a trustee. He plans injecting at least NIS 7 million (about $2 million)  into the TV station before leaving.

Channel 10’s management has been pleading with Lauder to inject more money so that the station can keep going until the end of the month.

Channel 10 has yet to pay the money it owes suppliers and there is concern that they will take legal action and even request the station’s liquidation.

Published by www.globes-online.com 

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