Ron Lauder buys ''Hatzofeh'' newspaper with Shlomo Ben-Tzvi

Together, the two own 80% of the paper, while 20% remains with Hapoel Hamizrachi.

1 June 03 17:05, Aviva Krull

Ronald J. Lauder and Shlomo Ben-Tzvi, among the owners of Israel's new Jewish content TV channel Techelet, and of religious news weekly "Makor Rishon", have acquired control of daily newspaper ''Hatzofeh'', which also serves the religious community.

The transaction was conducted through a company owned by an investor group headed by Ben-Tzvi (76%), and the Ron Lauder group (24%). The group bought 80% of ''Hatzofeh'', while 20% remains with Hapoel Hamizrachi (part of the World Mizrachi Movement).

''Hatzofeh'', whose content is oriented to a religious Jewish nationalist readership, was founded 66 years ago. The paper has a staff of 60 writers, editors and administrators.

Prior to the current acquisition, ''Hatzofeh'' was owned by Hapoel Hamizrachi in Israel (83%) and the World Mizrachi Movement (17%). The Ben-Tzvi group will make an initial investment of NIS 5 million in the paper.

According to market research conducted several months ago, commissioned by the paper's owners, ''Hatzofeh" had a readership of 110,000.

Published by Globes [online] - www.globes.co.il - on 01 June 2003