Immediate Report – Renewal of the license for satellite television broadcasting
Bezeq - The Israel Telecommunications Corp. Ltd.
(the “Company”)
December 22, 2022
Attn.
Israel Securities Authority
The Tel Aviv Stock Exchange Ltd.
Dear Madam/Sir,
Re: Immediate Report – Renewal of the license for satellite television broadcasting
The Company hereby reports that on December 21, 2022, the Company received a notice from the subsidiary DBS Satellite Services (1998) Ltd. ("yes"), on the decision of the Minister of Communications, after consultation with the Cable and Satellite Broadcasting Council, to renew the license for satellite television broadcasting granted to yes (the “License"), until February 28, 2026.
The expiration date of the License was determined after yes asked to adapt, to the extent possible, the expiration date to the estimated date for completion of the migration of yes from satellite broadcasting to Internet broadcasting, which is expected to be deployed by the beginning of 2026. See the Company's Immediate Report of March 19, 2019.
The Minister's decision also stipulated that instead of the arrangements for extending and renewing the License, subsequent to the License period and subject to the law, the License period may be extended for two additional periods of up to 12 months each, provided that the License holder submits written notice of three months to the Minister and the Council, and in addition, the Minister will not approve the extensions without a valid agreement with an entity able to provide yes with these broadcasts in the requested period.
The Minister also decided to amend the License to allow yes, from February 28, 2025, to not connect new subscribers to the satellite services under the License, and accordingly, to refuse requests for subscription agreements, without discrimination of subscription applicants.
It should be clarified that the estimates for completion of the migration process are forward-looking information as defined in the Israel Securities Law, 1968 based, among other things, on assumptions and estimates regarding the pace of the migration process; there is no certainty, at this stage, regarding the duration of the process and/or that the process will be completed; and also the completion date of the process (if completed) depends, among other things, on business developments, consumption habits, market conditions, and the technological environment, and therefore the estimates may not materialize in full or in part or they may materialize in a manner that is different than that estimated.
Yours sincerely,
“Bezeq” The Israel Telecommunication Corp Limited
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.