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Saturday, December 04, 2004
France: Rothschild buys stake in Liberation paper
No comment to add to this quote picked up in Forbes: "When the leading left-wing tabloid sells a sizable stake to a Rothschild heir, you know things are getting desperate for France's newspaper industry." The following sentences are more informative: "Under a tentative deal announced Friday, Paris-based banker Edouard de Rothschild is to inject euro 20 million (US$27 million) into the daily Liberation in return for a 37 percent stake in the paper, becoming its main shareholder... Nathalie Mercier (Rothschild spokeswoman) told The Associated Press that his acquisition was motivated partly by "concern that there should be forums of expression that are not concentrated in the hands of industrialists... Much-needed investment will bring the paper back into the black, for example by sharing printing costs with other publications, Mercier added. "Mr. Rothschild thinks that within five years it can be a very profitable machine."
Source: Forbes. See also the editorial written by Serge July, the newspaper's editor-in-chief.
Posted by Bertrand Pecquerie on December 4, 2004 at 12:56 AM in k. Circulation and newspaper launches, n. Online strategies, r. Revenues and business models | Permalink
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