Israel's Second Authority Approves Sale of Channel 13 to Merit Fund

Israel's Second Authority for Television and Radio has approved the acquisition of Channel 13 by the Merit Fund, following extensive deliberations and review of the deal's specifics. The acquisition is being facilitated through contributions from Asaf Rappaport and Yinon Costica to the Merit Fund. The approval came after a thorough examination of the ownership structure, funding sources, and the purchasers' commitments.

The Second Authority has imposed a series of conditions on the deal to ensure transparency and prevent undue influence over Channel 13's operations, broadcast content, and decision-making processes. These conditions include mechanisms for oversight, control, and transparency regarding funding sources and donors. Stipulations have also been set for future donors wishing to invest in or influence the channel's activities. Furthermore, measures are in place to bolster the broadcaster's independence by broadening the decision-making circle within the Merit Fund.

A key consideration in the approval process was Channel 13's financial stability. The buyers have committed to providing guarantees related to investments in Israeli productions and to maintain a significant financial cushion to ensure the solvency of the Merit Fund as the controlling entity. Mordechai Mordechai, chairman of the Second Authority's council, stated that the approval followed a "comprehensive and in-depth examination of all aspects of the acquisition," emphasizing the council's focus on the public interest and the need to ensure Channel 13's continued proper operation and independence.