ma'ariv holdings ltd (MARV) Snapshot

Maariv Holdings Ltd., Special/Extraordinary Shareholders Meeting, Jan 15, 2013., at 19:00 Iran Standard Time.

Amos Schocken of Haaretz Daily Newspaper Ltd. approached Shlomo Nass, trustee of Maariv Holdings Ltd. for the acquisition of Maariv, Hebrew daily. Sources told Globes that Nass has submitted the proposal to the Antitrust Authority to review the next steps. The sources added that Schocken is not interested in Maariv but its subscriber base. The acquisition of Maariv by Haaretz would lead to the liquidation of Maariv, which is a preferred option for Maariv Holdings. Nass said that there are several other options like Eli Azur and Len Blavatnik. Globes said that Eli Azur denied the reports. The deadline for submitting bids for Maariv has been extended by two days. Globes said that Nass and Haaretz confirmed the report.

Tkuma Carlebach-Mendel, the daughter of Dr. Azriel Carlebach, the founder and first editor of Maariv Holdings Ltd., is suing the company for ILS 5 million. In a letter to the company, she claims that she is owed the money for her special shares in the company. The latter states that a 1995 ruling validated a settlement between Carlebach-Mendel and Maariv, under which she agreed to convert her shares into deferred shares in exchange for various payments, including a fixed monthly sum. However, the most recent payment was only a third of the normal payment, apparently due to Maariv's deteriorating condition, and Carlebach-Mendel claims that there is real concern about the continued performance of Maariv's financial commitment to her. Carlebach-Mendel, 69, is therefore demanding that Maariv immediately pay the full ILS 5 million of the financial commitment.