Endemol buys into Israeli broadcaster Reshet
December 23, 2013 08.43 Europe/London By Robert Briel
EndemolEndemol and Israeli broadcaster Reshet have entered a strategic partnership.
As part of the deal, Endemol has acquired a 33% share of Reshet. The deal is subject to regulatory approval.
The two companies will collaborate to launch new original content, created and produced by Endemol, for the Israeli market on Reshet’s platforms, which will be shared and exploited throughout Endemol’s worldwide network.
Headquartered in Tel Aviv, Reshet has undergone significant growth in recent years and is currently the highest rating channel in the country, with local versions of international blockbusters as well as its own locally created popular formats such as Comedians at Work, Irreversible and State of the Nation.
Just Spee, CEO of Endemol Group, commented: “Israel is one of the world’s most innovative and creative markets; delivering exciting and successful formats with international appeal. Reshet is already a leading broadcaster in the region and with an outstanding management team the company is strongly positioned to continue its impressive growth. By joining forces with them we are able to significantly build our capacity to create new original, multi-platform content with global potential, which will be shared among Endemol’s worldwide creative network.”
Avi Zvi, CEO of Reshet added: “We are extremely excited about this partnership; Endemol choosing to invest in our company is a strong vote of confidence and recognition, not only in Reshet but also in the creativity and innovation of the Israeli TV market that has been renowned worldwide in recent years. Endemol’s vast experience in the international arena will allow Israel’s vibrant creative industry to bring premium programming to the global market, efficiently and successfully. Strengthening Reshet’s ownership structure with one of the largest television and format companies in the world will accelerate Reshet’s growth in both local and international markets.”
The partnership with Reshet follows Endemol’s acquisition in April of a controlling share in Israel’s leading independent producer Kuperman, which has now become Endemol Israel.