Tevel lost 7,000 subscribers in May - TheStreet

The Tevel cable television company lost about 7,000 subscribers in May, TheMarker has learned.

On April 22, when petitioning the court to suspend liquidation proceedings, Tevel predicted that it would lose 16,000 subscribers during the following two months while it reorganized. Most of its subscriber losses are to the benefit of its arch-rival, the satellite television provider YES.

The courts granted Tevel a two-month stay of liquidation, despite its financial crisis, and appointed Zvi Yochman to manage the company.

When petitioning the court, Tevel's managers declined to assess whether and when the company would begin providing high-speed Internet service, or whether it would be broadcasting the Mondiale soccer competition.