"Ma'ariv" publisher Shlomo Ben-Tzvi has notified the printing house's employees and owner he will end operations within ten days.
Shlomo Ben-Tzvi, publisher of Hebrew daily "Ma'ariv", has notified the employees of the newspaper printing house and its owner, Amon Maimon, that he will end operations at the site in Bat Yam within ten days.
Sources inform ''Globes'' that talks are taking place between daily newspaper "Israel Today" and Maimon. "Israel Today" is currently printed by the "Haaretz" printing house, and in the past has expressed interest in acquiring its own printing house. Maimon and "Israel Today" declined to comment.
Ben-Tzvi has also suspended payments to his company's contractors, Barak and Hamisrad Hanaki Ltd. (Clean Office), and their employees stopped coming to work today. Ben-Tzvi reportedly owes the contractors hundreds of thousands of shekels. "Ma'ariv" parent company Hirsh Media Group Ltd. has not yet paid "Ma'ariv's" freelancers, some of whom have not been paid since March. Payments to "Globes" are also outstanding, and the distribution of the "Globes Morning" joint supplement with "Ma'ariv" was terminated on Monday.
The court approved Ben-Tzvi's acquisition of "Ma'ariv" subject to his continuing the operation of "Ma'ariv's" printing house for 18 months, with an option to extend by up to five years, and to employ 100 people. Nevertheless, he plans to stop working with the printing house after just seven months. The printing house currently has 48 employees, after many employees took voluntary retirement, and the print runs fell to a minimum of under 20,000 copies.
Maimon told "Globes" that there was interest in the printing house, but he declined to name anyone.
The court will hear the case of the "Ma'ariv" printing house's employees tomorrow.
There has been no response from "Ma'ariv".
Published by Globes [online], Israel business news - www.globes-online.com - on July 2, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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