MaxiMedia is a leading Israeli advertising company
Murdoch buys 67 percent of MaxiMedia
News Corporation will pay Polar USD 4 million for majority shares in Israel's leading outdoor advertising company
Media giant News Corporation has acquired 67 percent of shares in Israel’s leading outdoor advertising company MaxiMedia from Polar Investments Ltd, it was reported Sunday.
If the deal is approved by regulators, News Corporation will pay Polar USD 4 million.
Under the agreement, News Corporation can acquire Polar’s remaining shares in MaxiMedia within two years for USD 1.5 million or within 5 years for a price tag raging from USD 1.5 to 6 million.
The deal will allow MaxiMedia to expand its dealings with News America Marketing, a subsidiary of Rupert Murdoch’s News Corporation, as both companies jointly own Hadaya, an Israeli marketing company.
News Corporation’s media empire stretches over five continents and is estimated at USD 55 billion. The company registered USD 24 billion in revenues according to a report published in June.
News Corporation said that it will use its assets to expand MaxiMedia’s business activities.
MaxiMedia has a 45 percent chunk of outdoor advertising in Israel.
