Palo Alto Networks founder Nir Zuk in talks to acquire TV station
Palo Alto Networks founder Nir Zuk in talks to acquire TV station
The estimated sale price of Channel 13 is in the tens of millions of shekels. Zuk has significantly increased his activity in the Israeli market since returning to live in the country during the Covid-19 pandemic. He launched a low cost airline named Air Haifa, a new digital bank, ESH Israel, as well as media venture Relevant, which recently shut down.
Negotiations between Palo Alto Networks founder Nir Zuk and the owners of Israeli TV station Channel 13 are advancing toward the potential sale of the channel to Zuk. While a deal has not yet been signed and its conclusion remains uncertain, it can be confirmed that discussions are in an advanced stage. The estimated sale price is in the tens of millions of shekels.
The controlling owner of Channel 13 is Len Blavatnik, the second-richest person in Britain. Earlier this year, negotiations between Zuk and Blavatnik failed to result in a deal. However, the situation may have shifted. Notably, last month, Zuk closed a media enterprise he founded in Israel around a year earlier, leaving him currently inactive in the Israeli media market. Unlike previous attempts, Blavatnik has now enlisted an investment bank to facilitate the sale of the channel.
Zuk has significantly increased his activity in the Israeli market since returning to live in the country during the Covid-19 pandemic. He launched a low cost airline named Air Haifa, a new digital bank, ESH Israel, as well as media venture Relevant, which recently shut down.
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While the negotiations continue, Channel 13 is grappling with an internal crisis and organizational instability. The turmoil began in June with the appointment of Yulia Shamalov Berkovich as CEO of the channel’s news company. Her appointment, which also made her the channel’s editor-in-chief, was met with significant backlash. After two months of legal and organizational scrutiny, including a review by the High Court of the company’s board and public representatives, an agreement was reached for Shamalov Berkovich’s departure. Her exit, initially delayed, finally occurred in September. Two weeks ago, veteran journalist Tali Ben Ovadia was appointed as interim CEO.
The combination of internal challenges and leadership transitions underscores the precarious position of Channel 13, as negotiations for its sale proceed against a backdrop of operational and financial uncertainty.
