Endemol Group B.V. signed a memorandum of understanding to acquire 33% stake in Reshet TV from Polar Communications Ltd. (TASE:PLRC), Ofer Brothers Group and Udi Angel on December 6, 2013. The total investment is $28.5 million. Part of the coin will be used to purchase Reshet stock and part will be a loan. Ofer Brothers Group and Israeli businessman Udi Angel will dilute their holdings but retain majority control. None of Reshet's shareholders will leave Reshet TV. Endemol Group B.V. signed an agreement to acquire 33% stake in Reshet TV from Ofer Brothers Group and Udi Angel on December 23, 2013. The deal is subject to The Second Radio and Television Broadcasting Authority approval. Polar Communications will sell its 13% stake in Reshet TV for $1.5 million as part of the transaction. The closing of the transaction with Polar is subject to regulatory approval.

The transaction did not receive approval from Second Radio and Television Broadcasting Authority by the February 26, 2014 deadline. As of March 2, 2014, Polar Communications Ltd reached an agreement with the shareholders of Reshet to extend the deadline for signing an agreement by four months. Radio Broadcasting Authority have not yet approved this stage, as it is still waiting for documents related to Endemol and its shareholders. Evolution Media Capital, LLC acted as financial advisor for Reshet TV.