Sources inform “Globes” that Noga 2 has signed an agreement to acquired Yediot Communications' 30% stake in Reshet Television. Noga 2 and Reshet will jointly bid in the new Channel 2 tender as a consortium. Aviv Giladi and Oudi Recanati control Noga 2.
Giladi and Recanati founded Noga 2 to participate in the Channel 2 tender. "Globes" was the first to report that Noga 2 decided to jointly bid in the tender with Reshet by acquiring Yediot Communications' stake in the company, after examining all other options, including making its own bid in the tender. Yediot Communications was required to sell its stake because of amendments in the Second Television and Radio Authority Law (5750-1990).
Reshet station manager Yohanan Zangan said, "Reshet is very pleased with the entry of Noga 2. The combination between Reshet and a new group with valuable content is the ultimate combination that will bring us all a strong, responsible, established, rejuvenated and innovative Channel 2. I have no doubt that Noga 2's elite staff content will contribute to the creation of a strong, original, innovative and varied broadcast schedule that will successfully meet the task of doubling the number of broadcasting days in the next franchise period.
"I am convinced that the new Reshet will lead Channel 2 in the next ten years of relevant and refreshing television. Recanati and Giladi are also excellent strategic partners with very rich experience in communications, economics and business in television in Israel and the world."
Published by Globes [online] - www.globes.co.il - on November 11, 2004