Jerusalem Post sold
by: Leslie Bunder - Last updated: 2004-11-17
Jerusalem Post online
Hollinger, the troubled media company formally run by Lord Black, has sold its Israeli interests including English language newspaper The Jerusalem Post.
In a deal worth $13.2m (£7.3m), Israeli publisher and media owner Mirkaei Tikshoret Limited becomes the new owner of the Jerusalem Post as well as The Jerusalem Report magazine.
With their new owners, these publications will be in good hands, led by people who know the Israeli market well and are dedicated to continuing the success of the publications," said Gordon Paris, interim chairman and CEO of Hollinger International.
One other party to the deal is Canadian media company CanWest which has formed a joint venture with Mirkaei Tikshoret to develop the Jerusalem Post.
We are delighted with this opportunity to work with MTL to unleash the considerable untapped potential of the Jerusalem Post Group and to extend the reach and influence of the group's flagship newspaper and other media properties around the world, but particularly in North America where CanWest's strong printing, sales and marketing expertise can be utilised," said Leonard Asper, president and CEO of CanWest.