London, UK, April 28, 2010
Access Industries Increases R.G.E. Ownership Position
Access Industries, owned by U.S. industrialist Len Blavatnik, announced that it has increased its ownership in R.G.E. Group Ltd. (RGE), a leading Israeli media group, from 20% to 33%. Aviv Giladi, Chairman of RGE, and Udi Recanati, will each own approximately a third of the company
RGE’s primary assets are the Sports Channel (http://www.sport5.co.il) and NOGA Communications (www.noga.co.il). The Sports Channel is Israel's leading sports broadcaster. Its highly rated output includes “The Champions League Studio,” “The Sports News” and “The Press Stand.” The Sports Channel’s website is one of the most visited sites in Israel.
NOGA produces and operates three TV channels in Israel: the Children’s Channel, which is regularly watched by 90% of Israeli children; the award-winning Documentary Channel; and the educational channel Logi, targeting the 7- to12-year-old market.
The terms of the transaction were not disclosed.
Jörg Mohaupt, at Access Industries, said: “Since we began our partnership with RGE in 2008, we have been impressed by the quality and dynamism of RGE Group’s management and productions and the company’s commanding position in the Israeli TV market. It is a strong asset with significant growth potential.”
Aviv Giladi, said: “Access has been a highly supportive partner and has provided a strong international angle to our business, especially in the digital media and online fields. We are delighted by Access’ decision to increase its ownership stake. It is a clear expression of Access’ confidence in the future of RGE’s business and its strong growth potential in the dynamic Israeli TV market.”
About Access Industries
Access Industries is a privately held, U.S.-based industrial group with long-term holdings worldwide. Access was founded in 1986 by its Chairman, Len Blavatnik, an American industrialist. Access’ industrial focus spans three key sectors: natural resources and chemicals; telecommunications and media; and real estate. (http://www.accessindustries.com)
Access Industries’ holdings in the media sector currently include majority stakes in Perform Group (the online sports broadcaster), Top Up TV (a U.K.-based digital terrestrial TV service provider), and Amedia (an entertainment TV content developer and producer in Russia), together with minority stakes in R.G.E. Group (a leading Israeli TV channels and production company), and Warner Music Group (one of the world’s leading recorded music labels and music publishers).