JERUSALEM, March 14 (Reuters) - Bezeq Israel Telecom said on Thursday its TV unit would transition away from satellite broadcasting and switch to an internet-based service, sending shares in its satellite provider Spacecom down more than 8 percent.
The migration will happen gradually over the coming years, according to a statement from YES, which is a subsidiary of Israel’s largest telecom group, Bezeq.
Leading Israeli news website Calcalist reported that YES is Spacecom’s second-largest customer. Shares in Spacecom were down 8.5 percent to 8.6 shekels ($2.39) in morning trade in Tel Aviv. ($1 = 3.5960 shekels) (Reporting by Ari Rabinovitch; Editing by Tova Cohen)