Reshet 13 CEO to step down

The CEO of Reshet 13 in Israel is stepping down from the role, with the company’s merger with fellow commercial broadcaster Channel 10 now back on.

Avi Zvi

Avi Zvi has received permission from Reshet 13’s shareholders and chairman Yossi Rosen to step down and will vacate the position on December 31.

This follows last month’s decision by media regulator the Second Authority to allow the merger between Reshet 13 and Channel 10, which was called off in October amid a string of regulatory delays, to go ahead.

Reshet 13 shareholders have also agreed to allocate Zvi shares in the merged company, which will be known as Reshet-Eser, “as an appreciation of his great work for the channel.”

Zvi, who has been CEO of Reshet 13 for almost 10 years, said: “About a decade ago, I took on the role of CEO of Reshet under the belief it would take three months to merge the company in order to bring financial stability into the market. Ten years later, the merger is in its final stages. I leave the new management with an amazing company with excellent human capital and I am sure the new shareholders will lead the merged company in the best possible way.”

The Israeli TV market saw a major shake-up in November last year when former Channel 2 co-franchisees Reshet and Keshet launched own standalone networks.

Reshet 13 has lagged in the ratings behind Keshet 12 ever since, while Channel 10 has also been behind in attracting audiences, resulting in the announcement of plans for a merger in June.