Endemol Buys 33% Stake In Israeli Broadcaster Reshet

Big Brother producer Endemol is expanding its footprint in Israel, one of the hottest TV territories at the moment that is churning out formats sold around the world. On the heels of Endemol’s acquisition in April of a controlling share in Israel’s leading independent producer Kuperman, which has now become Endemol Israel, the Netherlands-based independent production company has acquired a 33% stake in Israeli broadcaster Reshet. The deal, which had been rumored for the last couple of weeks, is subject to regulatory approval. Under the agreement, the two companies will collaborate to launch new original content – created and produced by Endemol — for the Israeli market on Reshet’s platforms. It will be distributed internationally by Endemol, which also will produce Israeli versions of international formats for the broadcaster. Reshet will use the money from the transaction, said to be $28.5 million (part of it used to purchase Reshet stock and part a loan) to increase investment in local shows. Headquartered in Tel Aviv, Reshet has grown in recent years and currently has the highest rated channel in the country, with local versions of global formats as well popular original series like Comedians at Work, Irreversible and State of the Nation, according to the company.