Channel 2 journalist Amnon Abramovich quoted police officials on Friday as saying that a criminal investigation is likely to be opened in what has been dubbed Case 4000.
The investigation will revolve around Elovitch's ties to the prime minister and his close associates and the suspicion he enjoyed benefits for the Israeli telecommunications giant Bezeq in return for favorable coverage of Netanyahu on the Walla! News website, which is fully owned by Bezeq.
According to police officials, the Lahav 433 investigations unit is expected to soon start summoning witnesses to provide testimony in an effort to ascertain what instructions were given concerning the coverage of the Netanyahu family and who gave them.
The Israel Securities Authority has begun examining the allegation in June 2017, submitting its conclusions to the State Attorney's Official some three months ago.
The Authority found sufficient evidence to indict Elovitch, senior officials in Bezeq and its subsidiary satellite TV company Yes, and former Communications Ministry director-general Shlomo Filber for a series of offenses.
Among other things, the Authority probed actions taken by Filber, a close associate of Netanyahu's, that benefited Bezeq, finding that Filber systematically passed on classified documents from the ministry to Bezeq officials so they could make comments on them and protect their interests.