He Ru Follow us: Make a7 your Homepage
      Free Daily Israel Report
      Archive: 7/25/2008
      09:04
      Reported

      News Brief

        7/25/2008, Tammuz 22, 5768

      Russian-Born Billionaire Bidding for Ma'ariv


      Russian-born American billionaire Leonard Blavatnik has replaced billionaire Sheldon Adelson as the chief bidder for the financially troubled Ma'ariv, Israel's second largest Hebrew language newspaper. Adelson dropped out of negotiations with Ma'ariv last year and instead set up a free distribution newspaper Yisrael HaYom (Israel Today, with no relation to a missionary publication by the same name).

      Adelson stopped talks with Ma'ariv's principal owner Ofer Nimrodi because of disagreements over Nimrod's setting the value of the company at $120 million. A similar dispute forced Blavatnik out of the running until recently, when he made another offer rumored to be at $90 million.