Len Blavatnik’s Entry introduced formally this morning that the provide to purchase IsraeIi tv channel Reshet 13 by Patrick Drahi, proprietor of Scorching and i24 Information, is the one which Blavatnik has chosen. Drahi’s folks submitted a suggestion to Blavatnik for 15% of the shares, due to the authorized restrictions on media cross-ownership, in the end rising to 75% of Reshet 13. The worth of the deal is estimated at $40-50 million for almost all stake. The channel shall be headed by Emiliano Calemzuk, the present CEO who was appointed by Blavatnik.
“We’re delighted to carry new buyers into our shareholder construction and to collaborate with the Drahi household in advancing the imaginative and prescient of Reshet 13 and its long-term positioning,” the notification to Entry shareholders states. The reference to the Drahi household implies that the deal just isn’t with Patrick Drahi’s holding firm Altice, which is dealing with extreme monetary difficulties.
The announcement additional states: “Mr. Drahi is a far-sighted Israeli entrepreneur with a 35-year observe report in communications, media, promoting, artwork, and prestigious companies world wide. This funding places Reshet 13 in a powerful place for increasing its exercise and persevering with creation for its viewers.”
World troubles
Along with Drahi’s provide, a competing bid was made for Reshet 13 by a gaggle of high-tech entrepreneurs led by Assaf Rappaport. Sources inform “Globes” that this group proposed a two-stage deal to Blavatnik: the acquisition of 74% of the shares, and a dedication to investing $100 million over the following three years to stabilize the channel operationally, spend money on content material, strengthen the information firm, and repay money owed.
Drahi’s issues are on a worldwide scale. Based on studies world wide, Altice shareholders have signaled dissatisfaction with the way in which the corporate is being run and with the monetary difficulties besetting it. Based on these studies, Drahi’s Altice empire is coping with debt of over €60 billion, and Altice USA alone has debt amounting to $25 billion. Additionally it is reported that Drahi is making an attempt to achieve settlements together with his collectors through which they’ll forego a part of the debt in return for fairness, and has exerted numerous types of stress and stripped corporations of property in order that his collectors will be unable to obtain cost of the debt.
If the take care of Blavatnik on Reshet 13 goes forward, many out there concern mass layoffs on account of attainable consolidation of Reshet 13 and i24 Information. Solely not too long ago, Drahi transferred the i24 Information exercise from Altice to the Drahi household, which led to voluntary retirements and additional layoffs in an try and stabilize the corporate, which recruited abilities at increased than common salaries. About 90 staff left.
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The take care of Blavatnik raises a regulatory drawback due to the Second Broadcasting Authority Legislation, which prohibits cross-ownership within the Israeli media market, with a purpose to stop over-concentration in broadcasting and to make sure that there is not going to be one participant controlling a number of predominant platforms. Drahi himself is proscribed to purchasing 15% of Reshet 13. If one other Scorching shareholder joins the deal, will probably be attainable to achieve a holding of 24%. The collaboration with Calemzuk implies that will probably be attainable to discover a approach of circumventing the authorized restriction.
The Union of Journalists in Israel has appealed in writing to the lawyer basic and the competitors commissioner to cease the deal. It claims in its letter that there’s a concern of an unlawful merger, as a merger is going down in apply earlier than approval has been granted by the Competitors Authority, and that the deal harms competitors and freedom of the press, and harms the employees due to the layoffs.
The Second Broadcasting Authority acknowledged in response to the report: “Any switch of shares by a broadcasting license holder necessitates approval by the Authority, and this transaction too shall be examined accordingly.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on February 8, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
