The LVMH group bails out “Le Parisien” for 150 million euros

This recapitalization “thus guarantees the stability of our activity, essential to the information mission carried out rigorously every day by our editorial staff”, reacted the management of the Les Echos-Le Parisien group on Friday.

The French luxury giant LVMH, led by billionaire Bernard Arnault, has validated the bailout of 150 million euros of Parisian (Or Today in France), which he owns. Enough to give a little air to the newspaper, the subject of rumors of a future sale. This recapitalization “meets compliance with our legal obligations” And “thus guarantees the stability of our activity, essential to the information mission carried out rigorously every day by our editorial staff”, argued the management of the Les Echos-Le Parisien group, of which the daily is a part, in a statement sent to AFP on Friday, November 21.

In an internal message also consulted by AFP, the group’s CEO Pierre Louette and interim general manager Anne-Violette Revel de Lambert specified that the recapitalization would take place “by the end of November” via Ufipar, a holding company controlled by LVMH. This operation, which “will help fill (THE) past losses and replenish (THE) capital” clean, “reflects the shareholder’s constant support for Le Parisien”welcome the two leaders.

LVMH had already bailed out its Les Echos-Le Parisien media group in 2018 to the tune of 83 million euros, then The Parisian (Or Today in France) for 65 million euros in 2022. While the daily has been the subject of rumors of sale for several months, this recapitalization was eagerly awaited, particularly by employees, given the newspaper’s losses, which reached some 30 million euros in 2024.