Sources inform ''Globes'' that Ma'ariv Holdings Ltd. (TASE: MARV-M) trustee Adv. Shlomo Nass will probably advise Tel Aviv District Court Judge Varda Alshech to accept the offer by Hirsh Media Ltd. owner Shlmo Ben-Tzvi for Hebrew daily "Ma'ariv". Nass has not yet filed his recommendation for the company as the auction is still underway and the bidders are still raising their offers.
The sources said that Ben-Tzvi's opening bid for the newspaper, and excluding the company's printing house, was NIS 20 million, partly in cash, and including payments over two years. The publisher of "Makor Rishon" also promises to hire 300 "Ma'ariv" employees for at least 18 months.
If Ben-Tzvi buys "Ma'ariv", this will pave the way for Sheldon Adelson's "Israel Today" to buy Ma'ariv Holdings' printing house in a separate deal. However, sources say that higher offers have been received for the printing house's land.
Other serious offers for Ma'ariv have been made by advertiser Hadar Goldman and "Jerusalem Post" publisher Eli Azur. Goldman's opening bid was NIS 14 million, and did not include the printing house, although he commits to operating it through outsourcing. The offer has been tailored for Ma'ariv's employees, and includes renewing their collective labor contract and employing 200 employees for at least seven years.
Azur is reportedly bidding to acquire all of Ma'ariv Holdings.
The parties mentioned declined to comment to the report.
Published by Globes [online], Israel business news - www.globes-online.com - on October 21, 2012
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