ViacomCBS Networks International has completed a full buyout of Israeli pay-TV operator and producer Ananey Communications Group after first investing in the company in 2017.
ViacomCBS Networks International has completed a full buyout of Israeli pay-TV operator and producer Ananey Communications Group, after first investing in the company in 2017.
Altough financial details have not been disclosed, it was announced that Ananey will be consolidated into ViacomCBS’s international business, with CEO Orly Atlas-Katz now reporting to Maria Kyriacou, President of VCNI’s operations in Australia, Israel and the UK.
Additionally, Udi Miron, Founder and Chairman of Ananey, will stay on as an advisor to the company. He will also be a general partner at a newly formed media venture capital fund named Gazella – New Media Experience, which he and VCNI will invest in.
“This deal is a logical next step to cement and enhance the long-standing and valuable partnership we have with Ananey and to secure and scale our position in the Israeli market. Ananey is a well-established and successful producer of local and global content and it is a strong fit with the rest of our international networks and studios business. I’m excited by the potential to scale its ideas and formats, to exploit its content pipeline and library, and to tap into its production expertise for our TV networks and streaming services in other territories,” said David Lynn, President and CEO of ViacomCBS Networks International.
Meanwhile, Atlas-Katz added: “This a vote of confidence on behalf of ViacomCBS, not only in us as a company, but also in Israeli content and creators. I’m positive that this a giant step forward for the local market and a boost to its ability to distribute content outside Israeli borders”.
This a vote of confidence on behalf of ViacomCBS, not only in us as a company, but also in Israeli content and creators” Orly Atlas-Katz CEO of Ananey Communications Group