Subscribe to Print Edition | Fri., August 15, 2008 Av 14, 5768 | | Israel Time: 02:17 (EST+7)
Haaretz israel news English
web haaretz.com
  Back to Homepage
Rosner's Domain
Diplomacy
Defense Jewish World Opinion National
Print Edition
Car Rental
Books Haaretz Magazine Business Real Estate Easy Start Travel Week's End Anglo File
American Jewish multi-billionaire Sheldon Adelson. (Reuters)
Last update - 03:55 31/10/2006
Multi-billionaire Adelson in advanced talks to buy Maariv
By Ronny Koren-Dinar, Haaretz Correspondent
Tags: מתנחלים, כיבוש, צה"ל

American Jewish multi-billionaire Sheldon Adelson is in advanced negotiations to acquire control of the Maariv tabloid daily from the Nimrodi family.

According to sources in the media industry, the sellers are asking for a company value of about $300 million, compared to a current market value of $116 million.

A source affiliated with Adelson commented: "He has not bought Maariv nor has any offer been proffered to buy the paper, at any price."
Advertisement
Responding to the speculation circulating in the marketplace, shares in Maariv rose 9 percent on the TASE on Monday.

Maariv publisher Ofer Nimrodi has been in talks with potential buyers of a controlling stake in the company for some time.

Last weekend, businessman Aracadi Gaydamak told Yedioth Ahronoth, Maariv's tabloid rival, that he had been approached to purchase the newspaper but turned it down on the grounds that "it's not business."

The name of online gaming entrepreneur Noam Lanir has also been mentioned as an early suitor.

A month ago TheMarker discovered that his Empire Online company was looking into acquiring a 90-percent stake in Maariv by buying the controlling interest in its parent company, Israel Land Development Corporation (ILDC).

Nothing came of the talks, but the price under discussion was $130 million, which would have conferred a 15 percent premium over Maariv's market capitalization.

If Adelson does purchase Maariv, it would not be his first venture into the local media industry.

He recently acquired a controlling interest in the HaYisraeli free newspaper from Shlomo Ben-Zvi (a former investor in Channel 10 and the current owner of Makor Rishon, Hatzofeh and a minority interest in HaYisraeli), and he promised to invest about $60 million in the company over the next few years.

Nimrodi, Adelson's spokesman in Israel Dan Raviv and HaYisraeli spokesman Dror Sharvit all declined to comment on the report.

The negotiations are for the holdings of all Maariv shareholders: ILDC (61.7 percent), which is controlled by Nimrodi; Vladimir Gusinsky (27.2 percent) and Nimrodi himself, with 1.1 percent of shares. An additional 9.9 percent stake is held by the public.

While operating income has reportedly been improving at rival papers Yedioth Ahronoth and Haaretz, Maariv is expected to report losses of between NIS 25 million and NIS 35 million for the year.

As a result of Maariv Group's continuing financial crisis, widespread layoffs are expected that will affect all departments of the newspaper as well as its local weekly supplements and other business activities.

For the second quarter of 2006, Maariv reported a net loss of NIS 22.5 million, compared to profits of NIS 385,000 in the same quarter of 2005.

The editor of HaYisraeli, Amos Regev, has done turns as head of Maariv's news desk and deputy editor of the newspaper.

Between 180,000 and 200,000 copies of HaYisraeli are printed daily, in morning and afternoon editions, and distributed free at train stations, on Egged buses and at gasoline stations and business centers.
Bookmark to del.icio.us  
 
Robbed in the war zone
Two Haaretz journalists robbed by armed Russian troops in Georgian city of Gori.
The Jewish Brad Pitt
Hollywood star plays American-Jewish hillbilly in the latest Tarantino film.
  1.   adelson to buy maariv 09:00  |  ephraim 31/10/06
  2.   Ban Laden to buy Haaretz 09:23  |  stright to the point 31/10/06
  3.   Beats selling out to the Krauts............. 09:26  |  Joe Moer 31/10/06
 Read & React
PMO: Israel won't take in any Palestinian refugees
Responses: 253
Georgia president denies Israel halted military aid
Responses: 40
Editorial: Israel must tone down its warmongering
Responses: 47
Ari Shavit: Russia is as threatening to the West as radical Islam
Responses: 72
Yair Sheleg: Silent settler majority must speak out againt its violent youth
Responses: 25
Rosner's Domain
What killed the campaign for Darfur?
Better chances for a Lieberman VP?
Poll: Who will be better as leader of the Kadima Party?
Clooney wants more "balanced" Israel policy (WTR)


More Headlines
01:19 Nasrallah: 'Failed' Israeli generals caused Georgia defeat in war
00:27 Georgia Pres.: Russian tanks moving deeper into my country
01:43 ANALYSIS / By failing to aid Georgia, Israel harming efforts against Iran nukes
00:19 Olmert aides: Talansky's evasion of court shows he can't be trusted
22:06 Ahmadinejad, Turkish leaders fail to agree on proposed energy deals
00:30 Olympics / Swimmer returns to Israel after smashing records
16:22 Brad Pitt becomes Jewish hillbilly in new Tarantino film
08:14 Haaretz newsletter: All the news from Israel direct to your inbox
21:31 'If we die, Abbas is to blame,' say Fatah fugitives stranded in Gaza
01:55 Phone company's 'Einstein' ads shelved due to Hebrew U. copyright row
23:05 UN: We've cleared half the cluster bombs Israel dropped on Lebanon
21:24 Two Haaretz journalists robbed by armed Russian troops in Georgia
21:19 B'tselem: IDF only launched 4 probes into 189 Palestinian deaths
21:21 State won't distribute anti-nerve gas drug with gas mask kits
Previous Editions
Special Offers
Advertisement
Fattal Hotel Chain
Perfectly located hotels on best resorts of Israel.
Jewish Singles Personal Ads
Find the love of your life on JDate.com
Isaac Maimon at Dreamshoppe
Special summer sale. Make an offer now. You will be surprised.
MBA in Israel in English
APPLY NOW! Limited spaces available
Israel's Premier Real Estate Website
www. israel-property.com
Yossi Avrahami Presents:
New Luxurious Projects in North Tel Aviv & Eilat
Your vacation starts here
Israel Travel Center Guaranteed Lowest Rates
Hebrew Summer courses
From $39.95
ISRAEL BONDS Build Israel
Israel bonds - a multi-purpose way to celebrate Israel's 60th
Eldan Rent a Car
Israel's leading car rental company offers you a 20% discount on all online reservations
Junkyard
Junk a car - get free towing nationwide and a tax-deductible receipt
Home | TV | Print Edition | Diplomacy | Opinion | Arts & Leisure | Sports | Jewish World | Underground | Site rules |
Real Estate in Israel | Travel to Israel with Haaretz | Hotels Israel | Restaurants Israel | Tourist attractions Israel | Shops Israel
birthright Israel | Search engine marketing
Haaretz.com, the online edition of Haaretz Newspaper in Israel, offers real-time breaking news, opinions and analysis from Israel and the Middle East. Haaretz.com provides extensive and in-depth coverage of Israel, the Jewish World and the Middle East, including defense, diplomacy, the Arab-Israeli conflict, the peace process, Israeli politics, Jerusalem affairs, international relations, Iran, Iraq, Syria, Lebanon, the Palestinian Authority, the West Bank and the Gaza Strip, the Israeli business world and Jewish life in Israel and the Diaspora.
© Copyright  Haaretz. All rights reserved