"Merit has no involvement in the management of Reshet 13"

Alon Tal is not the man most Israelis would expect to find at the center of one of the most dramatic deals in the local media market. For nearly three decades, he operated far from the spotlight, dealing with computerized securities trading, establishing the Alpha financial management group, advancing to wealth management for wealthy families, founding the Merit philanthropy fund, and investing in diverse technologies.

Now, as the CEO and founder of Merit, leading the investment of Wiz founders Assaf Rappaport and Yinon Costica, who acquired control of Reshet 13 alone, Tal is stepping out of the shadows to the forefront. As part of the deal, which includes a commitment to invest about $100 million in content and digital platforms, he is expected to serve as the owners' representative and may be the one who will actually lead the channel.

Business or Philanthropy?

Against the background of these reports, it is important for Tal to say that the group he represents has no involvement in the management of the channel. "Reshet 13 is not a social project. From our point of view, it is part of Merit's investment portfolio. As of today, we still have no direct touch with the channel, because the approval of the Second Authority has not yet been received. Therefore, Merit currently has no involvement in the management of Reshet 13. But in our view, it is definitely a channel that can be improved," he states.

When asked how they will influence the channel, Tal replies: "We will sit on the board of directors and make decisions, but neither we nor the donors will be involved in the day-to-day of the channel. When content people and talents arrive, they naturally want to know that the channel has financial backing and that the intention is to be here for the long term."