Asaf Rappaport Acquires Majority Stake in Israeli Media Group Israel Bidur Valued at 80 Million Shekels
Translated & summarized from Globes by baba
Asaf Rappaport's Merit Fund acquires 60% of Israel Bidur's parent company Z Platform for 80 million shekels, with an option to buy more. The Saar brothers will continue managing the company independently. The deal coincides with regulatory progress enabling approval of Rappaport's purchase of network 13, which had been stalled by a Supreme Court freeze.
The story in 6 lines · by baba
- Asaf Rappaport's Merit Fund buys 60% of Z Platform, valued at 80 million shekels.
- Rappaport holds option to acquire an additional 25% of Israel Bidur in the future.
- Israel Bidur's founders, the Saar brothers, will continue independent management.
- The group operates top Israeli Instagram and TikTok channels with millions of followers.
- Idan Elrom leads both network 13 and Z Platform as acting CEO.
- Regulatory approval for Rappaport's network 13 acquisition is now possible after Supreme Court lifted freeze.
Asaf Rappaport's Merit Fund is acquiring a 60% stake in Z Platform, the parent company of Israel Bidur, at a valuation of 80 million shekels. The deal was confirmed by Globes and follows extensive negotiations between Rappaport's representatives and Israel Bidur's founders, brothers David and Shlomo Saar. Under the agreement, Rappaport retains an option to purchase an additional 25% of the group in the coming years.
Israel Bidur, established in 2019, operates leading commercial Instagram and TikTok channels in Israel, boasting 1.7 million Instagram followers and approximately 1.1 million TikTok followers. The group's digital assets generate over 1.5 billion monthly impressions and more than 2.1 million unique users monthly. Despite the acquisition, the Saar brothers will continue to independently manage Israel Bidur as a separate entity, without merging it into Rappaport's network 13.
Idan Elrom, who was recently appointed acting CEO of network 13 and also serves as CEO of Z Platform, will maintain leadership roles in both organizations. Elrom has a background as CEO of Walla and Mako and as CEO of Keshet Digital.
The acquisition comes amid regulatory challenges surrounding network 13's ownership transfer. The Merit Spread Foundation is still awaiting control approval due to a freeze imposed by the Supreme Court on government appointments to the Second Authority Council. This freeze delayed approval of Rappaport's purchase of network 13, threatening the channel's financial viability. With the recent lifting of restrictions and restoration of the council's quorum, the outgoing council is expected to convene soon to review and approve the transaction, potentially averting the channel's collapse.
The deal highlights ongoing consolidation in Israel's media landscape, with Rappaport expanding his holdings in digital and broadcast media despite regulatory hurdles.
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