Publicis's Israeli attorneys negotiated with two Israeli-Arab companies to sell the Arabic-language weekly.
Sources inform “Globes” that Publicis (NYSE:PUB; Paris:PUBP) is selling its stake in Israeli Arab-language weekly "Kul al-Arab" for NIS 1.5 million. "Yediot Ahronot" is also a partner in "Kul al-Arab".
Published in Nazareth, "Kul al-Arab" is owned by Publicis-Ariely, Yediot Communications, and "Kul al-Arab" director Fayez Ashtiwi. Publicis-Arieli is a subsidiary of France-based Publicis, one of the four largest advertising agencies in the world. Zuheir Andreus is the editor of "Kul al-Arab".
Publicis, represented in Israel by Shugol & Co., has been negotiating recently with two Israeli-Arab companies to sell its stake in "Kul al-Arab". Publicis also has holdings in Super Push (Marketing Systems) and other Israeli companies. Publicis is trying to merge Publicis-Ariely with another major advertising agency. Previous attempts to merger Publicis-Ariely with Fogel-Levin Ogilvy and Mather and other agencies have failed.
Published by Globes [online] - www.globes.co.il - on April 13, 2004