July 29, 2016 4:51 PM ET

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Company Overview of DBS Satellite Services (1998) Ltd.

Company Overview

DBS Satellite Services (1998) Ltd. provides multichannel television services in Israel. It offers a range of high quality content on 160 different channels, including 20 HD channels; and various local content, as well as VOD services, pay-per-view channels, radio channels, music channels, and interactive services. The company also provides sports, entertainment and series, movies, business and news, science and nature channels, youth and music, Russian language, and an Arabic language channels. The company was founded in 1998 and is based in Kfar Sava, Israel. As of March 23, 2015, DBS Satellite Services (1998) Ltd. operates as a subsidiary of Bezeq The Israel Telecommunication Corporation L...

6 HaYozma Street

Industrial Zone

Kfar Sava,  44425

Israel

Founded in 1998

Phone:

972 9 761 6666

Fax:

972 9 761 6665

Key Executives for DBS Satellite Services (1998) Ltd.

Chief Executive Officer
Age: 51
Chief Financial Officer
Chief Operating Officer and Vice President of Customer Division
Age: 51
Chief Technology Officer and Vice President of Engineering
Vice President of Regulation & Legal Affairs
Compensation as of Fiscal Year 2016.

DBS Satellite Services (1998) Ltd. Key Developments

DBS Satellite Services (1998) Ltd. Provides Class Action Update

On April 7, 2016, Bezeq The Israel Telecommunication Corporation Limited was notified by its subsidiary, DBS Satellite Services (1998) Ltd. (Yes), regarding a claim and class action certification motion filed against it with the Tel Aviv District Court. According to the petitioners, the term included in Yes's contract with its customers, whereby the possibility of 'freezing' a subscription for a limited time period and avoiding payment of subscription fees for such period was for a minimum period of thirty days is a discriminatory and unreasonable term in a standard contract. The plaintiffs further assert that Yes enables a subscription to be 'frozen' for a shorter period for customers who contact it in this regard via telephone - a fact which amounts to consumer deception and bad faith conduct in breach, inter alia, of the Contracts Law, consumer protection laws and the Unjust Enrichment Law. The petitioners have petitioned the court to order the Term in the agreement cancelled, or alternatively to determine that the defendant's above-described conduct amounts to consumer deception of the first degree and bad faith conduct. The court is further requested to order Yes to compensate its customers for the periods in which they allegedly did not use its services but were allegedly denied the right to freeze their subscription in light of such Term, in an aggregate of ILS 736 million.

DBS Satellite Services (1998) Ltd. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

DBS Satellite Services (1998) Ltd. reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the nine months, revenues from services were ILS 1,325 million against ILS 1,284 million last year. Operating profit was ILS 203 million against ILS 215 million last year. Loss before income tax was ILS 243 million against ILS 234 million last year. Loss for the period was ILS 244 million against ILS 235 million last year. For the third quarter, revenues from services were ILS 446 million against ILS 432 million last year. Operating profit was ILS 74 million against ILS 76 million last year. Loss before income tax was ILS 75 million against ILS 86 million last year. Loss for the period was ILS 75 million against ILS 86 million last year. EBITDA was ILS 152 million against ILS 151 million last year. Cash flow from current operations was ILS 145 million against ILS 101 million last year. Payments for investments in property, plant and equipment and intangible assets were ILS 75 million against ILS 64 million last year.

Bezeq - The Israel Telecommunication Corp. Ltd. Receives Notice from D.B.S. Satellite Services (1998) Ltd. Regarding Class Action

On December 2, 2015, Bezeq - The Israel Telecommunication Corp. Ltd. received notice from its subsidiary, D.B.S. Satellite Services (1998) Ltd. (Yes) regarding a claim together with a class action certification motion which had been filed with the Central District Court against it and an additional multi-channel television company (hereinafter together, the respondents). According to the petitioners, the respondents have acted unlawfully by providing their customers with paid content services (as part of the respondents’ VOD services to their customers), which are provided in automatically renewable time-limited transactions, while unilaterally charging their customers for the service without receiving the customer’s consent and contrary to the provisions of the consumer Protection Law, 5741-1981. By doing so, according to the allegations, the respondents are unlawfully charging their customers and are becoming enriched unlawfully. The petitioners have requested the court, among other requests, to require the respondents to refund the class members the amounts they were unlawfully charged, as aforementioned. The petitioners do not explicitly stipulate the amount of the claim against the respondents, but estimate that the above-described conduct yields 'tens of millions of shekels' in income for the respondents. Yes is studying the claim and the class action certification motion, and neither it and/nor the company is able to evaluate the likelihood of success of the claim at the present stage.

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