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Article: Hollinger International Announces Sale of The Jerusalem Post and The Jerusalem Report to Mirkaei Tikshoret Ltd.
- Article from:
- PR Newswire
- Article date:
- November 16, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hollinger International Inc. ("the Company") today announced that Mirkaei Tikshoret Ltd., a leading publisher of newspapers in Israel, has agreed to acquire The Palestine Post Limited, the publisher of The Jerusalem Post and The Jerusalem Report, for a purchase price of US$13.2 million in cash. This sale agreement resulted from the Company's previously announced, ongoing Strategic Process.
Gordon Paris, Interim Chairman and CEO of Hollinger International, stated, "Over the past year, we have undertaken a series of actions to maximize value for our shareholders and position Hollinger International for increased profitability and success over the long term. ...