Viacom buys stake in Israel's Ananey Group

Udi Miron Photo: Eyal Yizhar
Udi Miron Photo: Eyal Yizhar

The US media corporation has an option to buy a controlling stake in Ananey which develops TV formats and programs.

US media corporation Viacom has acquired a minority stake in Israeli pay TV channel provider and content producer Ananey Communications Group through its unit Viacom International Media Networks (VIMN). No financial terms regarding the deal were disclosed although it is believed to be below $10 million, Viacom has an option to buy a controlling stake in the future.

VIMN and Ananey have long been partners in Israel, where Ananey licenses or represents Viacom’s global brands, including Comedy Central, MTV, Nickelodeon and Nick Jr. and represents Viacom’s programming sales and consumer products business.

Ananey develops television formats and programs for Israel and international TV markets, including Street Food Around The World, a food and travel show, and The Green Project, a sketch show. One of Ananey's flagship productions is its daily teen drama The Greenhouse, which has delivered record ratings for Nickelodeon in Israel. Netflix is producing an English-language version.

Ananey also produces digital and interactive content and applications, including the SpongeBob Master mobile app that is available in Israel and Hungary and is expected to launch in the UK this year.

VIMN president and CEO David Lynn said, "This deal will deepen our partnership with Ananey, which has delivered success for both companies over many years. We are delighted to cement our strong position in this valuable pay TV market and pursue new opportunities with a leading content producer in one of the most dynamic production sectors internationally. We have confidence that the Ananey team will continue to excel in the local and international market and we are excited about what the future will bring."

Ananey founder and chairman Udi Miron said, "This partnership with Viacom is testimony to the strength and creativity of Ananey Communications Group. After years of successfully representing Viacom in Israel, we are honored to take this partnership one step further; we believe together we will achieve even greater success in Israel and internationally. We look forward to working with Viacom to create new horizons for the traditional pay TV market and for the dynamic digital world and leveraging the strong Israeli startup market to advance our shared digital vision."

Published by Globes [online], Israel business news - www.globes-online.com - on January 15, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Udi Miron Photo: Eyal Yizhar
Udi Miron Photo: Eyal Yizhar
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