LONDON – Hiking its presence in the Israeli market, one of the world’s hotspots for groundbreaking TV production, “Big Brother” creator Endemol has confirmed that it has taken a 33% stake in Tel Aviv-based Reshet, one of Israel’s foremost commercial broadcasters.
Endemol and Reshet have also signed a strategic cooperation agreement focusing on the creation, producytion and distribution of new multi-platform content.
The stake deal was first reported earlier this month by the local Israel press (Variety, Dec. 9). Endemol did not announce a value to the deal that press sources have put at 100 sheckels ($28.5 million). Part of the coin will be used to purchase stock, part as a loan, per reports.
The new partners will launch new original content – created and produced by Endemol – for broadcast on Reshet platforms and Endemol international distribution. Endemol will also produce Israeli versions for Reshet of its worldwide hits. The two companies will team for brand extensions, second screen applications, and the mobile and digital video markets.
“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,” said Just Spee, CEO of the Endemol Group.
“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,” Avi Zvi, CEO of Reshet, added.
In April, Endemol acquired a controlling share in Israel’s Kuperman, a top Israeli indie producer, re-monikering it Endemol Israel.