Daily freesheet "Israel Today" is in advanced talks to buy the printing house of daily newspaper "Haaretz." Estimates are that the deal will be worth NIS 100 million. In the past few years, "Israel Today" owned by US billionaire and casino magnate Sheldon Adelson, has been using the printing and distribution services of the "Haaretz" printing house.
Over the past few months, "Israel Today" has been searching intensively to find somewhere to print the newspaper, and has expressed interest and conducted negotiations in purchasing printing machinery from various sources in the market, including the printing house of Nochi Dankner owned daily newspaper "Ma'ariv."
The decision not to buy the "Ma'ariv" printing house will be a major blow to Dakner, who needs an immediate cash flow before the holidays. On the other hand, if "Israel Today" buys the printing house from "Haaretz," it will ease the plight of that newspaper, which only last week announced a major round of layoffs to include 70 employees.
"Haaretz" said, "'Israel Today' has not purchased the printing house of 'Haaretz'"
"Israel Today" declined to comment on this report.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2012
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