German publisher M. DuMont Schauberg will buy a chunk of Haaretz Group, publisher of one of Israel's best-known daily newspapers, in a deal worth $32 million, the Associated Press reports.
Cologne-based DuMont says the two companies seek "a longstanding business relationship." Germany's fourth-largest newspaper publisher, it owns daily newspapers that include the
Koelner
Stadt-Anzeiger, Mitteldeutsche Zeitung, Express, and the recently acquired
Frankfurter Rundschau. The buy-in to Haaretz is its first investment in a foreign company, AP notes.
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