Endemol buys into Israel's Reshet

The deal with Channel 2 franchisee Reshet was first reported in "Globes".

Dutch content giant Endemol became a shareholder in Channel 2 franchisee Reshet yesterday. The negotiations over the deal were first reported in "Globes". It is estimated that the agreement will inject NIS 100 million into Reshet. It is conditional on approval by the Second Radio and Television Broadcasting Authority and the Antitrust Authority. The agreement, described as a strategic cooperation agreement, covers creation, production and distribution of content for various media.

Reshet reported today that the agreement brought together Endemol's expertise in content creation, production and distribution with the platforms that Reshet offers. "Reshet and Endemol will join forces to launch new original content that will be created and produced by Endemol and Reshet's development team for the Israeli market, on Reshet's platforms," the company's announcement said.

Reshet's content will be distributed on Endemol's global network, while Endemol will produce local versions of international hits for Reshet.

"Endemol's investment will enable Reshet to build on its recent successful growth in ratings via increased investment in local shows and new cross-platform opportunities, with both parties combining strengths in growth areas such as brand extensions, second screen applications, mobile and digital video.," the announcement said.

Reshet CEO Avi Zvi said today, 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.

Israel is one of the worlds 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, said Endemol Group CEO Just Spee.

The partnership with Reshet follows Endemols acquisition in April of a controlling share in Israeli independent producer Kuperman, which has now become Endemol Israel.

Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2013

Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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