France's richest man in talks to buy Paris newspaper
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Version 0 of 1. Luxury goods group LVMH is negotiating to acquire the French daily newspaper Le Parisien for €50m (£35m), reports the Financial Times. The Paris-based group, which owns brands such as Louis Vuitton, Fendi and Givenchy, also has media assets that include the business daily paper Les Echos. Le Parisien, currently owned by the Amaury group, was founded in 1944 as the voice of the France’s underground resistance against Nazi occupation. It covers the French capital and suburbs. Sales reached 1m in the early 1970s. By last year it was selling 229,638 copies a day, the fourth highest regional circulation in France. It also publishes a national edition, Aujourd’hui en France. LVMH is controlled by Bernard Arnault, France’s richest man. Source: Financial Times |