Channel 10 blasts State's investment in foreign productions
Struggling channel comes out against decision to invest millions in foreign TV, film production in Israel; as it faces NIS 60 million debt
Israel's Channel 10 slammed the government's decision to invest NIS 60 million ($15 million) over the next three years in foreign film and television productions in Israel.
The experimental project was decided upon in a deal which was reached between the Finance Ministry, the Ministry of Industry, Trade and Labor and the Israel Film and Television Producers Association, in an effort to promote foreign productions in the country.
As part of the agreement reached, the State will offer foreign producers up to a 25% refund on their expenses in Israel, if they choose to shoot the films in the country and uphold the threshold conditions they will be required to meet.
According to Channel 10, the decision was made while the network faces a NIS 60 million debt, which the State refuses to expunge and further prevents the channel from enlisting foreign investors who seek to assist the sinking network.
"We found potential foreign investors who were willing to invest millions of shekels in the channel and in the Israeli television industry," said Avi Balashnikov, the Deputy Directorate Chairman for Channel 10.
"Over the past seven months, we have tried to schedule a meeting between potential investors and the finance minister, and we're still waiting for him to find a date in his schedule."
Channel 10 CEO Yoav Heldman added that the "Israeli television industry and the local production industry that bring in millions of shekels every year are both facing a financial collapse, which could leave thousands of families who depend on these jobs in dire straits."
In response to Channel 10's accusations, the Finance Ministry stated that "there is no connection between Channel 10's financial troubles and the experimental project which will attempt to lure foreign film studios to Israel."
"The Israeli government sees great significance in promoting the Israeli film industry and encouraging foreign film and television studios to come to Israel. This project could greatly benefit Israel's economy and further promote tourism in the country, while also presenting Israel's public image in the world in a positive light," the ministry added.
