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November 27, 2014 / 5 Kislev, 5775
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Posts Tagged ‘Makor Rishon’

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.

Makor Rishon to Change Owners

Friday, March 28th, 2014

The popular religious-Zionist, Israeli paper Makor Rishon may change owners next week, according to a report in Makor Rishon.

Shlomo Ben-Tzvi is being forced to sell the paper by the court, after debts rang up from the paper’s unfortunate acquisition of the debt-ridden Israeli paper, Ma’ariv.

Twelve groups inquired about acquiring the paper from the court, six groups put in bids, and two bidders are left competing for the final decision.

One of the two final bidders is none other than Sheldon Adelson, who also owns the free Israeli paper, Yisrael Hayom.

The highest bid so far is Adelson’s Yisrael Hayom with NIS 14 million. The Jerusalem Post offered a close bid of NIS 13.5 million.

Makor Rishon was first founded in 1997, and changed owners a few times. The last owner was Shlomo Ben-Tzvi.

For all appearances, it was the purchase of Ma’ariv that set up the chain of events that resulted in the paper being sold.

Makor Rishon For Sale?

Wednesday, March 12th, 2014

It appears that Makor Rishon may now be up for sale.

Makor Rishon is a popular Israeli/Hebrew newspaper that caters to the Religious-Zionist market.

Last year, the newspaper’s management purchased the failed newspaper, Maariv, which subsequently turned into a financial black hole that has neen sucking Makor Rishon dry. Agreements connected to the purchase of Maariv linked it to Makor Rishon, which precludes dumping Maariv separately to save Makor Rishon.

Reports say that a third of the employees of Makor Rishon and Maariv were placed on unpaid vacation. Some employees say they haven’t received their February salaries.

Sources say that the goal of the paper’s management appears to be simply keep the paper going, running on a low flame, until a buyer can be found.

The Danny Ayalon Rumor Saga Continues

Friday, December 7th, 2012

With official silence still emanating out of the Yisrael Beytenu party, the rumor mill continues to grind out explanations as to why the popular Deputy Foreign Minister, Danny Ayalon, was removed from his party’s list ahead of the upcoming elections.

According to Friday’s Makor Rishon the reason has to do with a combination of Ayalon’s media savvy, constant interaction with the news media and not always following the party line, or more specifically Liberman’s exact instructions.

Makor Rishon reports that insiders say that there was tension between the two since the beginning of their term together, in part because Ayalon was popular among the foreign press due to his excellent English and personal interaction with them, and in part because of Ayalon’s philosophy that the Foreign Ministry needs to interact a lot with the media in order to get their message across, while Liberman prefers to play his cards close to his chest.

Ayalon is considered one of the cutting edge politicians when it comes to using social media tools such as Facebook and Twitter.

Channel 10 had reported that Ayalon was dropped for leaking information to the press, Makor Rishon seems to confirm that this is what Liberman believed, and that over the past four years, Liberman not only excluded Ayalon from meetings, but also embedded one of his personal spokespersons into Ayalon’s office whom Ayalon believed was there to report on him back to Liberman.

Sources in Yisrael Beytenu said that Ayalon knew for two days that he was probably going to be kicked out, and could have quit on his own respectfully.

Ayalon office says he was only officially informed two hours before the announcement.

 

 

 

Israel Newspaper Staffs Go On Strike

Tuesday, September 11th, 2012

Employees of Haaretz have gone on an open-ended strike, while Maariv employees are burning tires outside their office building, due to the anticipated firing of nearly 2000 people in Maariv, as well as anticipated staff staff cutbacks at Haaretz.

This comes in addition, according to a report on Galei Tzahal, of staff firings that have already begun in the recent days at Globes, Yediot, and others.

The strike was timed to coincide with a special Directors meeting at Haaretz.

Some of the striking newspaper staff are demanding that the government bail out the newspapers, because of their “important role in safeguarding Israeli democracy.”

In addition, there are new difficulties in the Makor Rishon acquisition of Maariv.  Maariv may be in more debt than previously disclosed, and it’s sales projections are less than were previously estimated placing the deal in a precarious position. Shlomo Ben-Zvi is reportedly working on renegotiating the deal.

FYI, you will still be able to get your news today from JewishPress.com.

Makor Rishon Buys Maariv

Sunday, September 9th, 2012

As JewishPress.com first reported last Thursday, Shlomo Ben-Zvi, the publisher of the national-religious paper Makor Rishon announced the purchase of the struggling Maariv newspaper on Friday. Maariv is the 3rd largest paper in Israel. It was owned by Nochi Dankner and IDB, and had recently announced it would be going completely digital, except for the weekend editions.

The sale was for NIS 85 million shekels.

Ben-Zvi plans to retain only up 15% of the current Maariv staff, mostly editorial personnel.

Makor Rishon does not own a printing press and outsources its printing, and perhaps surprisingly, Ben-Zvi did not purchase Maariv’s printing press. Leaving open the possibility that Yisrael Hayom may still eventually purchase it.

Ben-Zvi lives in Efrat.

Makor Rishon to Buy Maariv?

Thursday, September 6th, 2012

Globes is reporting that Shlomo Ben-Zvi, one of the owners of the religious Israeli newspaper, Makor Rishon, is in advanced talks with Maariv owner Nochi Dankner to buy the Maariv newspaper.

The report said that Ben-Zvi doesn’t plan to buy the debt of the paper, just the assets, including the Maariv brand name and control.

The deal is estimated in the tens of millions of shekels.

Printed from: http://www.jewishpress.com/news/breaking-news/makor-rishon-to-buy-maariv/2012/09/06/

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