egypt newspaper_58 reuters.
(photo credit: Peter Andrews / Reuters)
Billionaire businessman Nochi Dankner and Ma’ariv Holdings Ltd. chairman Zaki
Rakib completed a deal on Thursday to transfer control of the publisher of
Hebrew daily Ma’ariv to Discount Investment Corporation, a unit of Dankner’s IDB
RELATED:Dankner set to acquire control of Ma’ariv
Under the deal, Dankner will gain a 59 percent stake in the
company and his Discount Investment Corp. will inject NIS 120 million into
Ma’ariv, onesixth of it immediately.
The parties will undertake a
four-month review period, during which Rakib will stay on as the company’s
controlling shareholder. Ofer Nimrodi will remain as Ma’ariv Holdings’ other
main shareholder, through his Israel Land Development Company.
who has never previously owned a holding in a media company, said that he would
ensure that the Ma’ariv
daily would become first and foremost a “Zionist and
patriotic Israeli newspaper” that would not serve particular political or
“[It will be] a newspaper committed to safeguarding
democratic values, namely the rule of law and freedom of expression; a newspaper
that will place a special emphasis on social sensitivities and on human
interaction and the equality of all people; a newspaper that is attentive to the
feelings of the public and to progress in the Galilee and the Negev and all the
outlying areas,” he said.
From the perspective of Ma’ariv, the agreement
will hopefully end years of financial troubles and speculation over potential
buyers. US billionaires Sheldon Adelson and Len Blavatnik and Russian-Israeli
businessman Arcadi Gaydamak were among those who had been reported in recent
years as potentially interested in purchasing a controlling stake in the paper.