Jerusalem Capital Studios buildings to be sold for NIS 100 million

The buildings, one of which houses The Jerusalem Post, are worth an estimated NIS 100 million. They will be sold, but this move is not expected to have much effect on the local media markets.

By JERUSALEM POST STAFF
July 13, 2018 04:09
1 minute read.
THE JCS BUILDING owned by Ronald Lauder on Jaffa Street in Jerusalem.

THE JCS BUILDING owned by Ronald Lauder on Jaffa Street in Jerusalem.. (photo credit: TOVAH LAZAROFF)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Ron Lauder is shutting down the activity of JCS in Israel.

The company, formerly an important player in production and communications services, has greatly cut back its activity in recent years and now focuses mainly on two buildings it owns on Jaffa Street in Jerusalem, according to a report in Globes.

Be the first to know - Join our Facebook page.


The buildings, one of which houses The Jerusalem Post, are worth an estimated NIS 100 million. They will be sold, but this move is not expected to have a dramatic effect on the local communications market.

While the main news broadcast of Channel 10 is broadcast daily from JCS’s buildings, the channel does not receive communications and production services from the company, so there should be no problem about reaching an agreement with the purchaser of the buildings. The current tenants should be able to continue their lease there.

Foreign channels and correspondents operating in Israel, including CNN and other channels, will be hurt by this development because they receive communications services from JCS and will now have to find another company to provide them.

JCS also has studios in Tel Aviv from which the Hadashot company (formerly Hadashot 2) operates, but JCS does not own these buildings, so the company’s leaving Israel should have no negative effect on Hadashot.

Lauder has hired investment bank Value Base, headed by Yair Ephrati, to handle the sale of JCS. Legal advice in the move will be provided by Adv. Almog Doron, a partner in the Yaacov, Salomon, Lipschutz & Co. law firm.

JPOST VIDEOS THAT MIGHT INTEREST YOU:


“Ronald S. Lauder has decided to sell the company’s buildings and channel his investments in Israel toward development of the Negev and the Galilee as part of his investment in Zionism,” said a representative of Lauder. “He regards these regions as his personal vision and life’s work in Israel. The company’s customers were informed when the decision was made.”

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

September 23, 2018
Hamas halts cease-fire talks, blames Abbas

By HAGAY HACOHEN