Israeli-American movie producer Arnon Milchan’s Israeli broadcast television network has been saved, for now. Israel Channel 10 was in danger of ceasing operations on January 1st after the station was denied a renewal of its license.
But Israeli Attorney General Yehuda Weinstein stepped in at the eleventh hour, giving it a 6 month reprieve. The station will be able to operate until at least after the upcoming national elections that Israel will hold in March and through the formation of a new government there.
The station will need to use the time that it has been given to find the needed funds to pay off its many debts which is why the Israeli government balked at renewing its license to operate.
Israel has only three broadcast channels, two of which, 10 and 2, are allowed to air commercials. Channel 10’s problems stemmed from excessive debts.
Viewers of the network had been treated to announcements in recent days declaring that it would be forced to shut down with the start of the new year. It put the blame squarely on the shoulders of Israeli Prime Minister Binyamin Netanyahu.
Channel 10 is co-owned by Regency Enterprises’ owner Arnon Milchan and Israeli investor Yossi Meiman.