Shari Redstone is making waves in the investment world with a significant move into Israeli media through her involvement with Sipur. Her commitment to this venture is indicative of her broader vision that intertwines media investment with philanthropy and innovative business strategies. As Redstone steps into a new role, she outlines her goals and the future direction of Advancit Capital.
Redstone’s recent decision to invest in Israeli media entrepreneur Emilio Schenker’s Sipur has made headlines. This move was inspired by their collaboration on the documentary “We Will Dance Again.” Redstone, now chair of Sipur’s board, highlighted her enthusiasm for this new opportunity during her appearance on the “Daily Variety” podcast.
“The more I got to know [Schenker], the more I got to meet his team and understand what it was that he was doing, the more excited I got about this opportunity,” Redstone stated. “To be honest, I was not looking to get involved in another business. I was really looking to focus on my foundation and the work that I’m doing. But the reality is there’s a real consistency between the work that he is doing in the work that I am doing in my foundation. They create great content. They have a phenomenal team, they have a differentiated business model, and they have a vision to be the first international production studio out of Israel.”
Redstone’s investment comes at a complex time for Israel. She acknowledges the difficulties posed by the current socio-political climate, emphasizing the importance of creative collaboration as a means to address these challenges. Her decision to invest in Sipur reflects a strategic approach to harnessing Israel’s rich pool of creative talent.
“The reason why I think it’s so important to be in Israel, and why I think they have done a great job, is that in Israel and frankly, in other international markets, there’s a lot of incredible creative talent, both on the screen and off the screen,” Redstone explained. “There are a lot of people there who know how to tell great stories, and you can tap into that creative talent with a very different financial model than what you have here in the United States. Because of some of the challenges that exist in Israel, we work even harder to find the right people to work with. I’m super excited about what we’re going to be able to bring to the entertainment world.”
Her insights extend to the role of media in fostering peace and understanding, especially amidst geopolitical tensions. Redstone expressed her commitment to leveraging Sipur’s platform to address key issues and explore new narratives about Israel.
“We’re seeing the boycotts [against Israeli firms] that are taking place, just like, we’ve seen on college campuses and everywhere else. But that’s exactly why I’m so excited to work with Sipur to address these issues and to create content that we might have to fight for distribution. We might have to be aggressive in how we look at it, but that’s the opportunity,” she remarked. “I’ve always said we have a responsibility and an obligation to use our voices and to use our platforms to make a difference. And I see working with Sipur and helping them achieve their success as an opportunity. I don’t want to double down on the challenges. I really want to embrace the opportunity to present a different Israel and to achieve the success I know we can achieve.”
Beyond her investment in media, Redstone also remains committed to Advancit Capital, her venture fund, which is now focusing on emerging technologies like crypto and AI. Her son-in-law, Jason Ostheimer, is taking a leading role in managing these new directions.
“Our latest fund is more around crypto and AI. To be honest, if you want to be involved in crypto and AI, it’s something you really need to do full time. You can’t dip your feet in,” she mentioned. “So I’m still very involved with some of our portfolio companies that continue to exist. But my son-in-law [Jason Ostheimer] has really taken the lead on a lot of what we’re doing going forward.”
The business landscape is continually evolving, with recent discussions focusing on Paramount‘s recent deal with Skydance Media and RedBird Capital. Rumors suggest a potential interest in Warner Bros. Discovery assets, underscoring a strategic shift that could reshape the media industry. Industry commentators, like Variety’s Todd Spangler and Joe Otterson, are closely examining these developments as they unfold, highlighting the broader implications for the entertainment field.
