Court approves "Ma'ariv" sale to "Jerusalem Post"

The 59 "Ma'ariv" employees who will be hired will receive reduced salary terms.

The Jerusalem District Court today approved the sale of Hebrew daily "Ma'ariv" to English-language daily "The Jerusalem Post" for NIS 4 million. Judge David Mintz ruled that the 59 "Ma'ariv" employees who will be hired will receive reduced salary terms, but "The Jerusalem Post" said that this was open to negotiation. The sale is subject to approval by the Antitrust Authority.

The "Ma'ariv" news desk will leave Jerusalem and return to Tel Aviv, just four months after previous publisher Shlomo Ben-Tzvi took the newspaper out of the city. The news desk will again be based in the Rubinstein Building.

"The Jerusalem Post", owned by publisher Eli Azur, also bought "Ma'ariv's" subscriber base, archives, and brand. Azur made no commitments to the court regarding "Ma'ariv's" circulation, but promised to publish it daily. "The goal is to continue daily publication of the newspaper, but we are not revealing details. The exact method will be set in a few days, after we examine the numbers more carefully," said Azur's attorney.

Approval of the sale of "Ma'ariv's" news portal nrg and Ben-Tzvi's other newspaper "Makor Rishon" to Sheldon Adelson's "Israel Today" is still pending.

Published by Globes [online], Israel business news - - on April 6, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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