Israeli operator Bezeq warned investors it planned to cut the value of its broadcast subsidiary DBS by ILS1.1 billion ($305 million) in its forthcoming annual report.
DBS provides satellite TV through the Yes brand, low-cost services under the Sting TV banner, and other content-related facilities.
Currently its TV unit is reported separately to Bezeq’s core telecoms offering and international interests, however the company is in the process of gaining regulatory approval to combine the three.
When it reported Q3 2018, the CEO of the company’s Yes brand said it had shown a “moderate revenue decline” with churn increasing during the quarter.
In the same report, Bezeq chairman Shlomo Rodav added the company’s plan to bring all its subsidiaries together: “Addresses the challenges facing the group and the future requirements emerging in the telecommunications market, alongside the complex regulatory restrictions imposed on the company.”
It added the three divisions needed to improve efficiencies and increase infrastructure investment due to the level of market competition.Subscribe to our daily newsletter Back