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PM Netanyahu Re-elected as Head of Israel's Likud Party

Israel's Prime Minister Benjamin Netanyahu delivers a victory speech in Tel Aviv after winning the Likud party primary, Jan. 1, 2015.

Israeli Prime Minister Benjamin Netanyahu has been re-elected as head of his conservative Likud party as he gets ready for early elections in March.

Netanyahu trounced his sole challenger, far-right politician Danny Danon.

The prime minister called for new elections two years early after his shaky coalition Cabinet fell apart last month.

Netanyahu is looking for a third consecutive term as Israeli prime minister.

The latest polls show his Likud party in a tight race with a joint liberal ticket made up of the Labor and Hatnuah parties. Recent opinion polls also show rising support for the far-right nationalist Jewish Home party.

The general election is set for March 17.