Endemol Forms Pact with Israel’s Reshet

AMSTERDAM/LONDON/TEL AVIV: Endemol has picked up a 33-percent stake in Reshet, a top commercial broadcaster in Israel, as part of an agreement that is awaiting regulatory approval.

The two companies have also inked a strategic cooperation deal that concentrates on the creation, production and distribution of new multi-platform content. They will work together to launch new original programming, created and produced by Endemol, for Israel on Reshet's platforms. Endemol will globally distribute new shows and produce Israeli versions of international formats for Reshet, which will now enjoy increased investment in local programs and new cross-platform opportunities.

Just Spee, the CEO of Endemol Group, remarked: "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."

Avi Zvi, the CEO of Reshet, added: "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. 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."