"Israel Today loses $3m a month"

The claim was made in an affidavit by businessman Shlomo Ben-Zvi.

"It is no secret that the freesheet, 'Israel Today' loses $3 million a month and cannot be profitable," states businessman Shlomo Ben-Zvi, in an affidavit filed with a court a few days ago. The affidavit is part of the mutual lawsuits filed by Ben-Zvi and "Israel Today" owner Sheldon Adelson against each other.

In the affidavit, Ben-Zvi contends that he initiated freesheets in Israel, on the basis of similar daily papers around the world. He states that, in 2006, Adelson invested in his freesheet "Israel News", and demanded massive changes in it.

Ben-Zvi contends, "At some point Adelson had other plans for the paper. At a meeting with me in May 2006, he said that wanted a more 'serious' newspaper with a more political expression than a light and new freesheet."

Published by Globes [online], Israel business news - www.globes-online.com - on October 2, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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