The Channel 13 deal is done. The Merit Fund, whose members include Assaf Rappaport and other investors, has acquired control of the channel. But to understand the real significance you need to understand one thing: this is not just an acquisition. It is a rehabilitation plan.
The deal is valued at approximately 20 million — about 5 million for purchasing shares and securing control, and the remaining 5 million earmarked to inject activity: around 5 million in the first year, and another 0 million over the following two years.
The reason is simple: Channel 13 financial situation is dire. Cumulative losses are approaching half a billion shekels, with around 340 million in the last three years alone. On top of that, there are legacy debts, commitments to original productions, and an operating loss of roughly 12 to 15 million shekels per month. In other words: the money is primarily buying time.
A Crowded Field
The Israeli media landscape is already very crowded. Channel 12 targets the mainstream with strong reality programming and aggressive news. Channel 14 targets a clear right-wing niche. i24 targets a professional news audience, primarily center-right. Channel 13, by contrast, spent recent years trying to be a copy of Channel 12 — without the financial backing and production capabilities of Keshet. That strategy did not work.
Meanwhile, media consumption has become non-linear. Journalists are building audiences on social networks. Influencers are creating communities. New formats like micro-dramas and short content are growing fast. Television share of the advertising pie has fallen to around 34%, while digital stands at approximately 52%.
Three Possible Scenarios
First: continue on the same track. Invest in news and big productions and hope for ratings successes. In my view, this is very dangerous — it assumes the television market has not changed.
Second: audience or ideological differentiation. That is what Channel 14 did with the right-wing audience. But the center-left audience in Israel is largely mainstream — it already finds itself on Channel 12 or in independent media.
Third — and in my view the most plausible — is to reimagine what a channel is in Israel today. Not just a television channel, but a hybrid media entity that understands its core audience is under 45 and consumes media both on television and online. In this model, digital becomes the growth engine.
What That Looks Like in Practice
- Web series and micro-formats
- Managed influencer networks
- Thinking of the channel as a data and IP machine that builds audiences
- Television remains an anchor that generates depth
But every program must ask a new question: how does it behave in the digital world? What does a newsroom that thinks social-first look like? What does a talent contract look like when social media activity is also part of the asset?
This is no longer just a question of content. It is a question of business model. If the goal is to build a sustainable media asset, Channel 13 cannot remain just a television channel. It will need to become a completely different animal. And if that does not happen, the end is probably inevitable. Channel 13 will simply die.