Endemol Buys 33 Percent Stake in Israeli Broadcaster Reshet
Independent TV production giant Endemol said Monday that it has agreed to acquire a 33 percent stake in Israeli broadcaster Reshet.
Financial terms of the deal, which further enhances the company's presence in Israel, weren't disclosed.
The agreement follows Endemol's April acquisition of Israeli independent producer Kuperman, which has now become Endemol Israel. The two companies also entered a strategic partnership focused on the creation, production and distribution of multi-platform content.
The Israeli TV market has come into focus for global players with the success of Homeland and other shows.
"Endemol's investment further enhances Reshet's market position in Israel, enabling increased investment in local shows and new ventures," the partners said.
The two companies will collaborate to launch new original content -- created and produced by Endemol -- for the Israeli market on Reshet’s platforms, which will then be exploited across Endemol’s worldwide network.
"By leveraging its global resources, Endemol will internationally distribute new shows, as well as produce Israeli versions of worldwide hits for the broadcaster," the firms said.
Tel Aviv-headquartered Reshet said it is currently the highest-rated channel in the country thanks to local versions of international hits and locally created popular formats, such as Comedians at Work, Irreversible and State of the Nation.
Said Just Spee, CEO of Endemol: “Israel is one of the world’s 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. By joining forces with them we are able to significantly build our capacity to create new, original, multi-platform content with global potential, which will be shared among Endemol’s worldwide creative network.”
Said Avi Zvi, CEO of Reshet: “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."
He added: "Endemol’s vast experience in the international arena will allow Israel’s vibrant creative industry to bring premium programming to the global market, efficiently and successfully. Strengthening Reshet’s ownership structure with one of the largest television and format companies in the world will accelerate Reshet’s growth in both local and international markets.”
Endemol hits include Big Brother, Deal or No Deal and Wipeout.