Canadian media company CanWest Global Communications Corp. and Israeli media association Mirkaei Tikshoret Group are set to take over The Jerusalem Post.
Each media group will own 50% of the newspaper, as well as The Jerusalem Report magazine and other properties, according to media accounts. The sale, by Hollinger International, is believed to be for $13.2 million. Hollinger paid $21.5 million for the newspaper, which it acquired in two stages in 1989 and 1990. Hollinger International has been selling off its holdings after Conrad Black, its chairman and CEO, resigned amid an internal investigation, which found that Black and others stole tens of millions of dollars from the company. Black has denied any impropriety.
Mirkaei Tikshoret has holdings that include TV and radio stations, as well as daily newspapers in Russian and magazines in Hebrew and in Russian.