Hebrew daily "Haaretz" is considering moving its operations from Tel Aviv to a site in the Holon industrial zone, early next year. A move depends on selling the newspaper's current premises on Schocken Street, named for the paper's founder.
A move to Holon would reduce "Haaretz's" rental costs, but could make it more difficult for employees to get to work.
If "Haaretz" leaves Tel Aviv, it will follow the departure of "Yediot Ahronot", which will consolidate its operations at a single site in Rishon LeZion within two years.
Haaretz Group is in advanced talks to sell its Tel Aviv headquarters to Sadeh Global Holdings Ltd. (SGH) for NIS 30 million. SGH will convert the 6,300-square meter building, which includes the printing press, into a high-end fashion mall.
Financially troubled Haaretz Group has made extensive layoffs and closed its local entertainment paper, "Achbar Ha'Ir" (City Mouse). The company has been considering other options to save the newspaper and its cash flow.
"Haaretz" said in response, "There has been no decision to move anywhere. We are considering a range of options."
Published by Globes [online], Israel business news - www.globes-online.com - on March 13, 2013
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