Israel free daily folds

The free daily Israeli closed down after a long period of disputes between its owners, Israeli business man Shlomo Ben-Zvi and American millionaire Sheldon Adelson. Shlomo Ben-Zvi’s Hirsh Media, publisher of the paper, also publishes newspapers Makor Rishon and Hatsofe. According to Adelson, Ben Zvi was skimming the paper while funds meant for Israeli were used for other publications. Staff of Israeli joined Adelson – who cut off his funding – in his lawsuit (see previous post). Because the closing of Israeli had more to do with the dispute between the owners than with the actual performance of the paper – a re-launch or a launch of another paper is very well possible (loses however were substantial, amounting to $700,000 a month). Paid daily Yedioth Ahronoth already hinted at the idea (see previous post).

Source: Haaretz, Ansa

One Response to “Israel free daily folds”

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