There's been another shakeup at the newspaper 'Hamodia': Businessman Yoav Brin, who only last month purchased the financially struggling newspaper, has backed out of the deal. This after a dispute arose between the parties over who is responsible for paying debts of millions of shekels, as well as over the status of the newspaper's veteran CEO, Loser Knopf.
The Hamodia newspaper has encountered difficulties in the past year and has even fallen behind in paying salaries to its employees and suppliers.
A few weeks ago, Brin, a Hasidic businessman who made his fortune in the United States, announced that he had acquired control of the newspaper.
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""This is essentially a fight for Knopf's future and status," says a source close to the newspaper's editorial team. "Brin was willing to continue operating the newspaper, but with restrictions and under his supervision. When he saw that every week he learned about another loan and another investment that he had not known about before - and now he was required to take it upon himself as the new owner - he backed down.".
In light of these developments, MK Yaakov Litzman is trying to form a new group of investors, which will include well-known businessmen, who will invest in the newspaper and put it on the right track.
Meanwhile, control of the newspaper returned to CEO Knopf, whose position in the newspaper weakened after the acquisition.
""The situation now is at dusk in the newspaper," says the same source. "There will be no changes until after the holidays.".
