CANWEST TO BUY HALF OF JERUSALEM POST
By Adnews Staff
CanWest Global Communications has entered an agreement to become a 50% joint venture owner and operator of newspaper The Jerusalem Post. Yesterday Hollinger International sold The Palestine Post, the company that publishes The Jerusalem Post and The Jerusalem Report, to Israeli media company Mirkaei Tikshoret for US$13.2 million in cash. The same day, CanWest struck a deal with Mirkaei Tikshoret to take on half of the new entity that will own the Post. According to CanWest president Leonard Asper, CanWest will attempt to "extend the reach and influence of the newspaper, particularly in North America where CanWest's strong printing, sales and marketing expertise can be utilized." The deal is still subject to regulatory approvals.