Maariv, the once-popular daily that has seen a steady decline in readership and income in recent years, may be up for sale again just a year and a half since it was last sold, Haaretz reported on Friday.
Shlomo Ben Tzvi, who owns the Makor Rishon company that bought Maariv in 2012, is said to be looking for new partners or buyers for the struggling daily.
A court hearing on Ben Tzvi’s request for a stay of proceedings against creditors is scheduled for Sunday. The Makor Rishon company, which owns Maariv and the Makor Rishon newspaper, reportedly owes creditors and employees some NIS 35 million ($10 million) due to Maariv’s lackluster performance.
Ben Tzvi told the court his company cannot pay these debts at this time. Ben Tzvi has reportedly invested some NIS 90 million in the daily over the past year and a half.
While the Friday edition was printed and is being distributed normally, it is unclear if the newspaper will print a Sunday edition, according to Haaretz.
Ben Tzvi has proposed a recovery plan that would see drastic cuts in the newspaper’s staff and the sale of Maariv’s sister website NRG, in addition to ending the weekday printings of the daily.