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March 28, 2015 / 8 Nisan, 5775
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Posts Tagged ‘Israel Antitrust Authority’

Antitrust Authority Approves Sale of Makor Rishon

Thursday, May 1st, 2014

JERUSALEM (JTA) — Israel’s Antitrust Authority has approved the sale of the Makor Rishon newspaper and the NRG news website to billionaire Sheldon Adelson’s Israel Hayom company.

The Authority on Wednesday also approved the sale of the Hebrew-language Maariv to The Jerusalem Post, the Israeli business daily Globes reported.

Makor Rishon had been in danger of closing if a decision on selling the religious-Zionist newspaper had not been made this week.

Israel Hayom, a free daily distributed throughout Israel, began operating in 2007 and has the highest daily circulation of any Israeli newspaper.

Adelson, who made his fortune in casinos, is a major supporter of of Israeli Prime Minister Benjamin Netanyahu, as well as Republican candidates in the United States.

Israeli businessman Shlomo Ben Tzvi and his family put Makor Rishon and NRG on the selling block after poor sales led to the combined company owing about $1 million to creditors and employees.

The Jerusalem District Court approved the $4.9 million sale to Adelson but conditioned the transaction on the approval of the antitrust commissioner, Haaretz reported. The court applied the same condition on the $1.2 million bid for Maariv by Jerusalem Post owner Eli Azur.

Israel, US, UK Antitrust Panels to review Google-Waze Merger

Thursday, October 3rd, 2013

Israel’s antitrust regulatory commission is investigating whether the Google-Waze merger constitutes a monopoly.

The Israel Antitrust Authority opened its investigation on Wednesday, the Israeli business daily Globes reported.

The probe will focus on whether Google’s purchase of Waze, a free downloadable navigation application with more than 50 million subscribers, should have obtained permission from the authority before the merger and whether it could create a monopoly in the Israeli market.

Waze on July 25 reported a purchase price of $966 million in cash in its financial report for the second quarter of 2013, Globes reported. The purchase was completed in mid-May.

The Israeli firm’s managers and employees have remained in their Raanana headquarters rather than relocating to Menlo Park, Calif. Google has said that Waze will remain a separate service and an independent company.

The antitrust authority has asked Google Israel’s general manager and Waze Israel’s CEO for financial and other information, according to Globes.

Also investigating the merger are the Federal Trade Commission in the United States and Britain’s Office of Fair Trading.

Printed from: http://www.jewishpress.com/news/breaking-news/israel-us-uk-antitrust-panels-to-review-google-waze-merger/2013/10/03/

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