The administration of Israeli tv station Reshet 13, Entry, and WBD, have agreed on a change of management within the firm. The administration, headed by CEO Emiliano Calemzuk, will maintain 74% of the shares, whereas the present homeowners, Len Blavatnik’s Entry Industries and WBD, will stay with 26%. The corporate’s press launch states that, after six years of supporting Reshet, Entry Industries and its proprietor, Blavatnik, had agreed of a sale of the bulk holding within the firm. The acquisition of the shares can be led by Calemzuk along with a bunch of Israeli and worldwide buyers from numerous fields, amongst them media, leisure, and expertise.
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The press launch states that the plan contains giving the workers a possibility to take part within the possession of the corporate, via choices on shares, and that will probably be carried out in the midst of 2025. It additionally states that Reshet 13 will endure restructuring with the intention of restoring it to profitability in 2026.
Sources inform “Globes” that at this stage the matter is the topic of an MOU between the events, and {that a} binding settlement has not but been signed. The worth of the deal shouldn’t be identified, however neither are Reshet’s money owed.
In line with the knowledge that has reached “Globes”, there was shock at Reshet on the announcement of the transfer, which was not identified to many individuals within the firm. In line with sources who spoke to “Globes”, in current weeks Calemzuk has met buyers with the intention of injecting money into the corporate, after Blavatnik wouldn’t agree to take action. That course of matured into the transfer now reported: “an investor group” that’s shopping for the corporate.
Calemzuk seeks to maintain management in his fingers. He knew that if Nir Zuk succeeded in shopping for the channel, he deliberate to carry again its former CEO Avi Ben-Tal, who carried out negotiations on his behalf, to run it.
“The administration and all the workers of Reshet and Information 13 categorical gratitude and appreciation to the shareholders, particularly to Mr. Len Blavatnik, for supporting the corporate throughout a disaster interval, and usually, and for the religion positioned within the administration and workers in anticipation of the subsequent stage that awaits the corporate,” the announcement states.
“Entry and WBD are supportive of the proposed administration and worker buyout and need them to succeed. It’s necessary to retain employment on the channel and to help the nation and its democratic media,” mentioned a spokesperson for Entry Industries.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on March 16, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
