ViacomCBS Networks International (VCNI) has fully acquired Israeli content producer and pay-TV channel provider Ananey Communications Group.
VCNI is buying the shares in Ananey it does not already own, following its acquisition of a minority stake in the company in December 2016.
Ananey’s founder and chairman, Udi Miron, will stay on in a new role as special advisor to the company and will also act as general partner of a newly formed venture capital fund, Gazella – New Media Experience, that he and VCNI will jointly invest in.
The fund will focus its investment in Israeli media and technology related businesses.
As a result of the deal, Ananey will now be consolidated into VCNI, with CEO Orly Atlas-Katz reporting to Maria Kyriacou, president of VCNI’s operations across Australia, Israel and the UK.
David Lynn, president and CEO, VCNI, said in a statement: “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.”