Sheldon Adelson’s Israeli Newspaper Lost $190 Million in First Seven Years

Sheldon Adelson finances Israel Hayom, the pro-Israeli government daily newspaper. Image by Getty Images

By Naomi Zeveloff January 11, 2017

Israel Hayom, the free Israeli daily financed by American casino magnate Sheldon Adelson, lost $190 million from its inception in 2007 to 2014. That comes out to one shekel, or about 26 cents, per paper printed, Haaretz reported.

Israel Hayom is the largest circulation newspaper in Israel. Known for its favorable coverage of Israeli Prime Minister Benjamin Netanyahu and his Likud party, the paper is colloquially referred to in Israel as “Bibiton,” a combination of Netanyahu’s nickname Bibi and the Hebrew word for newspaper, “iton.”

The paper has been the subject of news in Israel this week since a Channel 2 investigative report said that the Israeli police possess tapes of a conversation between Netanyahu and Yedioth Ahronoth publisher Arnon Moses in which Netanyahu offered to help stop Israel Hayom from publishing its weekend edition in exchange for more favorable coverage from Yedioth Ahronoth, which often turns a critical lens on the prime minister.

The scandal is rocking Israel and Labor party chief Isaac Herzog has called on Netanyahu to resign from his post as communications minister, calling for an investigation of the ties between Netanyahu and Israel Hayom.

Contact Naomi Zeveloff at zeveloff@forward.com

Naomi Zeveloff is the former Middle East correspondent of the Forward, primarily covering Israel and the Palestinian Territories.

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

The coming year promises to be filled with more complex and historic developments. We are entering an era where independent, fact-based Jewish journalism will be more important than ever. We need to be ready for whatever 2025 will bring, and with your help, we can be.

We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.

If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.

— Rachel Fishman Feddersen, Publisher and CEO