Len Blavatnik to inject NIS 100m into Reshet 13

Len Blavatnik

Reshet 13 chairman Nadav Topolsky has revealed that the controlling shareholder is injecting capital into the newly merged Israeli TV company.

Reshet 13 chairman Nadav Topolsky announced this morning to employees that controlling shareholder Len Blavatnik is injecting NIS 100 million into the Israeli TV company to help the TV station continue to develop.

The injection of capital was revealed in a New Year (Rosh Hashana) message that Topolsky sent this morning to Reshet 13's employees. It said, "The past year was a significant year for the media market and Reshet13 in particular. We have led a complex merger between three pillars of Israel's TV media, Reshet, Channel 10 and Channel 10's news company, each of whom bring to the table unique added value. In this we way, together we have created Reshet 13 - a main player with creative and major media influential content. We have become one channel with one interest - to create leading, quality, viewed television that sets the agenda."

He added, "We have the best TV and content people in Israel. All of you bring with you a record of excellence, which is a great source of pride for the channel's management, the board and the owners. It is clear to us that in order to meet the professional challenges that stand before us, you need sound support and appropriate economic resources. Therefore, in the near future, as part of our commitment to the success of Reshet 13, we have decided to inject a major sum of up to NIS 100 million. This measure is designed to give a boost to your important endeavor and make Reshet 13 an efficient and profitable company."

Published by Globes, Israel business news - en.globes.co.il - on September 26, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Len Blavatnik
Len Blavatnik
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