The LVMH Group provided bailout funds to “Le Parisien” of 150 million euros

This recapitalization “thus guarantees the stability of our activities, which is essential for the information mission strictly implemented every day by our editorial staff”, reacted the management of the Les Echos-Le Parisien group on Friday.

French luxury goods giant LVMH, led by billionaire Bernard Arnault, has validated a 150 million euro bailout for Paris (Or Today in France), which he has. Enough to make a slight impression on the newspapers, which were the subject of rumors of a future sale. This recapitalization “meet compliance with our legal obligations” And “thus guaranteeing the stability of our activities, essential for the information mission strictly carried out every day by our editorial staff”, said the management of the Les Echos-Le Parisien group, of which the daily is part, in a statement sent to AFP on Friday, November 21.

In internal messages also consulted by AFP, group CEO Pierre Louette and interim general manager Anne-Violette Revel de Lambert said a recapitalization would take place “at the end of November” through Ufipar, a holding company controlled by LVMH. This operation, which “will help fill (THAT) past losses and replenish (THAT) capital” clean, “reflects shareholders’ continued support for Le Parisien”welcome both leaders.

LVMH provided bailout funds to media group Les Echos-Le Parisien in 2018 amounting to 83 million euros, then Parisian (Or Today in France) for 65 million euros in 2022. Although the daily has been the subject of sale rumors for several months, this recapitalization is eagerly awaited, especially by employees, considering the newspaper’s losses of around 30 million euros in 2024.