[ad_1]
Israeli businessman Nir Zuk has signed a memorandum of understanding (MoU) with Channel 13 and its controlling proprietor Len Blavatnik to look at buying management of the Israeli TV station, topic to due diligence.
In line with info obtained by “Globes,” the deal is value $70-90 million and never among the a lot bigger quantities spoken about prior to now. This time there’s a seriousness surrounding the deal, primarily on account of the truth that these round controlling shareholder Len Blavatnik have agreed to speak about decrease quantities.
RELATED ARTICLES
Nir Zuk’s new Israeli financial institution delaying opening
Nir Zuk set to launch Israeli liberal TV channel Related
Techie turned tycoon Nir Zuk nonetheless stressed
Zuk, a tech entrepreneur and founding father of cybersecurity large Palo Alto Networks has been attempting to enter Israel’s media sector for a while. Just lately, the media enterprise known as Related that he based about 18 months in the past, and through which he invested an estimated NIS 100 million, was closed down.
Channel 13 seeks stability
There was a lot speak prior to now that Zuk was excited by shopping for Channel 13 and getting into Israel’s media business. All the pieces that the corporate has been via just lately has additionally pushed the controlling shareholders to appreciate that change is required – this after the appointment of a controversial CEO to the information firm that induced an excessive amount of uproar, low scores, financial deterioration and excessive CEO turnover. All of this has created instability on the firm.
A 3rd occasion that pushed Channel 13 to the state of affairs it’s in now’s the withdrawal of investor Ofer Yanai, who deliberate to buy 10% of the corporate. His entry was purported to inject funds that would supply respiratory house for paying salaries.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 16, 2024
© Copyright of Globes Writer Itonut (1983) Ltd., 2024
[ad_2]
Source link
