Full Breakdown
Change in Control for Channel 13: A New Era with Assaf Rappaport
3/16/2026, 11:15:30 AM
Overview of the Transition
Channel 13 in Israel is undergoing a significant ownership transition as owner Len Blavatnik has moved forward with a new investor group led by hi-tech entrepreneur Assaf Rappaport. This shift comes after a previously considered deal with telecom magnate Patrick Drahi faced regulatory challenges. The new framework proposes that control of the broadcaster will be placed in the hands of the philanthropic Merit Spread Foundation, supported by a consortium of Israeli hi-tech investors. While the deal is not yet finalized and requires regulatory approval, it represents a pivotal moment for Channel 13 amid ongoing financial pressures.
Key Players in the Acquisition
The investor group spearheaded by Assaf Rappaport includes notable figures from Israel's technology sector, such as Yinon Costica, Ami Luttwak, Roy Reznik, and Wix president Nir Zohar. Additional prominent investors are expected to join, including Roy Mann, Eido Gal, Amit Stibbe, Kobi Richter, and Merav Bahat. The Merit Spread Foundation, which has a history of supporting various social causes, will serve as the controlling entity, ensuring the channel's editorial independence and neutrality.
Financial Commitment and Goals
The investor group has committed to paying $25 million for a majority stake in Channel 13 and plans to inject $45 million in the first year, with a total of $100 million over three years. Their objective is to achieve operational breakeven by the end of the third year, addressing the financial instability that has plagued the channel. Discovery will retain minority shares in the broadcaster.
Regulatory Challenges and Previous Deal
The previous arrangement involving Patrick Drahi encountered significant regulatory hurdles, including rejections from the Competition Authority regarding interim financing due to concerns about media ownership concentration. This led to the emergence of Rappaport's group as the preferred option for Channel 13's future.
Official Statements & Responses
Channel 13 management and employees have expressed support for the new investor group, highlighting the importance of Rappaport's understanding of the channel's public significance. Matan Hodorov, chairman of the News 13 workers’ committee, described the deal as a rare opportunity to stabilize and grow the broadcaster after years of turbulence.
Unresolved Questions and Next Steps
Despite the positive reception, major questions remain regarding the final ownership structure and the regulatory approval process. The Merit Spread Foundation is expected to announce the identity of the channel's new CEO and board of directors shortly. Until regulatory clearance is obtained, the transition remains tentative.
Verbatim Quotes
- “The group says that investment via the foundation will ensure the channel’s neutrality and freedom from influence by the group.” — Assaf Rappaport, Lead Investor
This transition marks a significant shift in the Israeli media landscape, with potential implications for the future of Channel 13 and its role in the industry.
