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Friday, May 22, 2015

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Ma’ariv daily sold

Tags: Israel

JERUSALEM — The Israeli daily newspaper Ma’ariv has reportedly been sold to the publisher of the right-wing nationalist newspaper Makor Rishon.

The $21-million (US) sale, which does not include Ma’ariv’s debts or publishing house, will be completed by October, the Israeli business daily Globes reported Sunday. Israeli businessman Nochi Danker owns Ma’ariv.

Makor Rishon publisher Shlomo Ben-Tzvi plans to continue operating Ma’ariv as a newspaper, according to a notice from Ma’ariv Holdings Ltd. to the Tel Aviv Stock Exchange, Globes reported. Ben-Tzvi will also offer to hire as many as 400 Ma’ariv employees, the notice said – the paper has about 2,000 employees.

As part of the sale, Ben-Zvi is also acquiring the NRG website, a chain of local newspapers, magazines, intellectual property rights, and the newspaper’s clients and subscribers, according to the Calcalist business news service.

Earlier this month, the board of Discount Investment Corp., which is owned by Danker, agreed to put more than $3 million into Ma’ariv and sell its printing house. Ma’ariv was reportedly going to cease publishing on a daily basis, only producing a weekend edition while providing updated daily Internet news.

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