Mass media network Discovery Inc. has announced it will begin investing in Israel’s Channel 13, according to a statement by the company.
Discovery Inc. will have a meaningful minority stake in the channel alongside Len Blavatnik's Access Industries, which is co-investing through this transaction.
The companies which will collaborate with Channel 13 include Discovery, Access and majority owner of Warner Music Group and digital sports broadcaster DAZN.
The decision is pending regulatory approvals.
"The recently-materialized partnership with Discovery and Blavatnik's Access Industries directly follows the significant strategic moves taken within the channel over the past year, putting Channel 13 on track toward future growth," said Nadav Topolski, Channel 13 chairman and shareholder.
“Discovery already holds great relationships with partners in the Israeli market, but we are always keen on finding new opportunities to strengthen our global footprint and to develop new areas for growth." said Jamie Cooke, group senior vice president, CEEMCA, MEA, Russia and EMEA Pay-TV.