Sources inform ''Globes'' that Sheldon Addison's freesheet, "Israel Today", cut its daily circulation by 40% during the Jewish holidays, from 250,000 to 150,000. Sources at the paper told "Globes" that the decision to cut circulation was made in advance because there are fewer people at workplaces and key intersections.
One of the sources said, "Distribution during the holiday was reduced because of the lower presence at workplaces where the paper is distributed, due to paid vacations. Reduction of circulation during the holiday was planned in advance. With the end of the holidays and extended breaks next week, we'll resume our regular circulation. Meanwhile, "Israel Today" is preparing to publish a weekend edition,"
"Globes" reported that "Israel Today" is about to bring forward its plans for a weekend edition by several months. The weekend edition will have double the weekday content of 40-48 pages depending on the amount of advertising. The weekend edition will reportedly have three sections: the daily news section, a weekend section, and a political section.
However, expansion of the weekday edition, let alone a weekend edition, involves heavy costs, especially for a freesheet, and Adelson has had a bad year financially. According to "Forbes", he has lost $13 billion, mostly due to the 75% collapse in the share price of Las Vegas Sands Inc. (NYSE: LVS) since October 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on October 23, 2008
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