Sheldon Adelson’s Israel Hayom Front-runner in Ma’ariv Website and Makor Rishon Takeover
Israel’s most widely read Hebrew-language newspaper, Israel Hayom, is the leading candidate to purchase the struggling Israeli daily Ma’ariv‘s website and the weekly Makor Rishon newspaper, Israel’s Walla reported.
Published by American business magnate Sheldon Adelson, Israel Hayom said on Tuesday its bid has yet to be approved by the antitrust authority, but there is a growing belief that its proposal will be the one ultimately accepted.
Israel Hayom‘s acquisition submission reportedly stands at NIS 10 million. It is believed by Israeli media experts that Adelson’s take over of the newspapers will not lead to a round of layoffs, Walla said.
It is also believed that the expected buyout will lead to the liquidation of Ma’ariv, with its few remaining employees being transferred to Makor Rishon.
Besides from Israel Hayom, four other bids have been made to purchase the outlets, Walla said.
Adelson’s primary competition is from The Jerusalem Post. While the Post‘s publisher, Eli Azur, has expressed interest in buying both Ma’ariv and Makor Rishon, he is primarily focused on Makor Rishon, Walla reported.
The Jerusalem District Court is overseeing the sale of the outlets which are controlled by Shlomo Ben-Zvi, Israel’s Ha’aretz reported.