A Mozes family source told the magazine that Yediot Ahronot Ltd. will need money to compete against Adelson.
"The New Yorker" quotes a source close to the Mozes family, the owners of Hebrew daily "Yediot Ahronot" that if Sheldon Adelson acquires its rival "Ma'ariv", Yediot Ahronot Ltd. would have to hold an IPO to raise enough money to complete against Adelson. The statement was made in a feature article about Adelson in the latest issue of "The New Yorker".
Adelson talked about his strong antipathy to the current Israeli government because of the peace talks with the Palestinians, and about his efforts to obtain a foothold in the Israeli and US media markets. These include efforts to acquire Tribune Company from Sam Zell.
In commenting on Adelson's moves, Michael Steinhardt told the "The New Yorker", "These things are not done for the money. They are done because Adelson is an ideologue, and he really cares about spiritual matters, not his wallet." Steinhardt is a personal friend of Adelson and is the founder and chairman of Taglit Birthright Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2008
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