Endemol buying third of Reshet

Udi Angel's spokesman: We wish to make it clear that the Engel-Ofer group will keep control of Reshet.

Global media giant Endemol is acquiring one third of Channel 2 franchisee Reshet Television Ltd. "Globes" first reported about the pending deal last week.

Endemol representatives held direct talks with Reshet executives, and not through their Israeli representatives. Reshet controlling shareholder Udi Angel met with Endemol representatives all evening on Thursday, and Reshet CEO Avi Zvi held further meetings on Friday, and signed a memorandum of understanding. Endemol specializes in reality shows.

None of Reshet's shareholders will reportedly leave the company, but their stakes will be diluted in accordance with Endemol's investment of tens of millions of shekels, ahead of Reshet's license.

The Second Radio and Television Broadcasting Authority must approve the deal.

Angel's spokesman said, "In the past two months, several parties were interested in investing in Reshet. Without going into rumors, we wish to make it clear that the Engel-Ofer group will keep control of Reshet."

Published by Globes [online], Israel business news - www.globes-online.com - on December 8, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018