Full Breakdown
Acquisition of Reshet 13 by Merit Spread Foundation: A New Era for Israeli Media
3/15/2026, 10:05:30 AM
Core Event: Tech Entrepreneurs Take Control of Reshet 13
The Merit Spread Foundation, led by Assaf Rappaport, co-founder of cybersecurity company Wiz, has acquired control of Israeli TV station Reshet 13 from billionaire Len Blavatnik's Access Industries. This acquisition, announced on a Friday, follows a failed attempt by businessman Patrick Drahi to take over the channel, which faced regulatory hurdles due to potential conflicts of interest.
Background & Context: The Shift in Media Ownership
The deal comes amid concerns over media independence in Israel, particularly regarding Drahi's previous bid, which critics argued could extend governmental influence over media outlets. The Merit Foundation aims to ensure editorial independence and diversity in Israeli media, with Rappaport stating that the investment is intended to serve the entire Israeli public without conflicts of interest.
Key Figures & Groups: The Players Behind the Acquisition
Assaf Rappaport leads a consortium of high-tech entrepreneurs from companies like Wix, Monday.com, and Riskified. The group has pledged to invest approximately $120 million into Reshet 13, aiming to enhance its content and digital capabilities. Access Industries and Warner Bros. Discovery will remain minority shareholders in the channel.
Official Statements & Responses
The Merit group emphasized that their acquisition would secure Reshet 13's future and promote a unifying, patriotic media presence. They stated, “The citizens of Israel deserve an independent, patriotic, and strong news channel.” Access Industries President Danny Cohen expressed confidence in the new partnership, highlighting the channel's potential for continued development.
Criticism & Opposition: Concerns Over Media Pluralism
The initial bid by Drahi raised alarms among critics who feared it would lead to a merger of Reshet 13's newsroom with that of i24 News, potentially undermining journalistic independence. The Israeli Journalists Syndicate had previously referred the matter to regulatory authorities, emphasizing the need to protect media pluralism.
Conflicting Reports & Gaps: Regulatory Challenges
Drahi's proposal included an $80 million loan to Reshet 13, which was rejected by the Israel Competition Authority due to concerns over cross-ownership and competition. Following the rejection, Drahi attempted to add new investors to his group, but the Merit Foundation's acquisition was seen as facing fewer regulatory obstacles, as it does not involve cross-ownership issues.
What's Next: Future Prospects for Reshet 13
With the acquisition finalized, the Merit Foundation is expected to implement significant changes aimed at revitalizing Reshet 13. The foundation's commitment to maintaining editorial independence and investing in digital innovation suggests a strategic shift that could redefine the landscape of Israeli media.
Verbatim Quotes
- “They want the channel to serve the entire Israeli public.” — Assaf Rappaport, Co-founder of Wiz
- “The citizens of Israel deserve an independent, patriotic, and strong news channel,” — Merit Foundation Statement
The acquisition of Reshet 13 by the Merit Spread Foundation marks a significant transition in Israeli media ownership, with implications for editorial independence and the future of journalism in the country.
