Reshet 13 Completes Management Buyout from Warner Bros. Discovery and Access Industries
In a significant shift within Israeli media, Reshet 13 has successfully executed a management buyout in collaboration with Len Blavatnik’s Access Industries and Warner Bros. Discovery. This strategic transaction, which was first announced in March 2025, allows a consortium led by CEO Emiliano Calemzuk to take ownership of 74 percent of the Israeli broadcaster.
With this agreement, Access Industries and Warner Bros. Discovery have effectively reduced their collective stake to 26 percent, marking the end of their extensive involvement in managing the Hebrew-language channel. Reshet 13, known for popular productions such as Netflix’s Blackspace and the documentary The Journey of Oz Davidian, which reflects on the tragic events of October 7, 2023, is set for a new chapter under employee and management-led ownership.
In a joint statement, Access Industries and Warner Bros. Discovery expressed pride in their role, stating, “We have supported Reshet 13 as it is a vital national asset for Israel and a contributor to its democratic fabric. This transition to management and employee ownership represents a strategic move that positions Reshet 13 for sustainable growth and success.”
The company’s ownership landscape changed notably in 2021 when Discovery Communications acquired a 21 percent stake. At that time, Access Industries held a majority 52 percent interest alongside various Israeli minority investors. Recently, Blavatnik’s decision to transfer his majority holding to the management team and new investors has been pivotal in ensuring the operational continuity of Reshet 13, particularly as the network seeks to restructure and attract new growth capital.
Calemzuk remarked, “It is essential for Reshet 13 to have robust partners to navigate the next phase of its evolution. The commitment demonstrated by Len Blavatnik, Access Industries, and WBD in maintaining the viability of the channel will now be complemented by new stakeholders, ensuring Reshet continues to be a platform for diverse perspectives and free expression within Israeli society.”
The new ownership structure includes backing from a diverse group of investors, primarily from the realms of media, entertainment, and technology. With a clear focus on revitalizing its business operations, Reshet 13 aims to achieve profitability by 2026.
Finally, it is important to note that this transition still awaits approval from Israel’s Second Authority for Television and Radio, which is responsible for regulating commercial broadcast entities.