Israeli Regulator Approves Acquisition of Channel 13 by Merit Fund

Israel's Second Authority for Television and Radio has approved the acquisition of the Channel 13 television network by the Merit Fund. The approval, granted on Wednesday, follows a thorough review of the proposed ownership structure, funding sources, and the purchasers' commitments.

The review was conducted by the acting director general of the Second Authority, Uri Sheraf, and the professional staff. They assessed the buyers' ability to ensure the continued proper operation of Channel 13, safeguarding public interest and the broadcaster's independence. Key considerations included the financial stability of Channel 13 and the purchasers' commitment to invest in Israeli productions and maintain a significant financial cushion for the Merit Fund.

As conditions for the approval, the Second Authority mandated oversight, control, and transparency mechanisms. These are designed to prevent undue influence on Channel 13's operations, content, or decision-making processes. Specific measures will ensure transparency regarding funding sources and donor identities, and will also apply to future investors or those seeking to influence the channel's activities.

Furthermore, the independence of Channel 13 is expected to be strengthened by broadening the decision-making circle within the Merit Fund. The purchasers have committed to providing guarantees for completing investments in Israeli content and maintaining a substantial financial reserve to ensure the stability of the Merit Fund as the controlling entity.

Mordechai Mordechai, chairman of the Second Authority's council, stated that the approval followed a comprehensive examination of all aspects of the acquisition, emphasizing the buyers' commitment to Channel 13's continued operation and the implementation of oversight and transparency mechanisms. He added that the council's primary focus was the public interest and the preservation of the broadcaster's independence.