Categories: OLD Media Moves

French biz newspaper staff revolts after sale

The staff of French business newspaper Les Echos has halted production of the newspaper after its parent company, which also owns The Financial Times, agreed to sell it to LVMH.

Gwladys Fouche of The Guardian wrote, “Today they have decided that Wednesday’s print edition will not be available at newsagents either — the fifth time in less than six months this has happened.

“Journalists are opposed to their title being taken over by LVMH, the French luxury group, over concerns over its editorial independence. Pearson announced last night it had sold the daily in a deal worth â‚¬240m (Â£167m).

“‘We are extremely angry and are still utterly opposed to being bought by Bernard Arnault [LVMH’s chief executive and chairman],’ said Leila de Comarmont, a spokeswoman for Les Echos journalists.

“‘His pseudo-guarantees of editorial independence are just a smokescreen … Arnault wants a forced marriage with us. He has bought the paper for a lot of money but he won’t buy us.'”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.