JERUSALEM (JTA) — The Israeli daily newspaper Maariv reportedly was sold to the publisher of the right wing nationalist newspaper Makor Rishon.
The $21 million sale, which does not include Maariv’s debts or publishing house, will be completed by October, the Israeli business daily Globes reported Sunday. Israeli businessman Nochi Danker owns Maariv.
Makor Rishon publisher Shlomo Ben-Tzvi plans to continue operating Maariv as a newspaper, according to a notice from Maariv Holdings Ltd. to the Tel Aviv Stock Exchange, Globes reported. Ben-Tzvi also will offer to hire as many as 400 Maariv employees, the notice said — Maariv has about 2,000 employees.
As part of the sale, Ben-Zvi also is acquiring the NRG website, a chain of local newspapers, magazines, intellectual property rights, and the newspaper’s clients and subscribers, according to the Calcalist business news service.
Earlier this month, the board of Discount Investment Corp., which is owned by Danker, agreed to put more than $3 million into Maariv and sell its printing house. Maariv reportedly was going to cease publishing on a daily basis, only producing a weekend edition while providing updated daily Internet news.