The media for Bernard Arnault? Almost a charity. The luxury billionaire, who was auditioned Thursday, January 20 by the commission of inquiry into concentration in the media, was questioned at length about the reasons which led him to invest in the press. Even if they represent only a drop of water within the LVMH empire, its main newspapers, The echoes and The Parisian, nevertheless remain real tools of influence.
But, like Vincent Bolloré the day before, the president of the luxury group made his best efforts to keep a distance. “The goal for us is that these companies succeed in becoming profitable”, he put forward as the only explanation for his interest in the sector, even speaking of “patronage”. Also in his purse, Invest, Radio Classique, and interests in Challenges, Lagardere and Opinion, i.e. as many activities as he described as “fairly marginal subject” for him and his band. Without him, ” some “ of these titles (of “loss-making activities”, “low in absolute value”) would not have survived.
His adventure in The gallery, bought in 1993, illustrates the story differently. At the time, Bernard Arnault was not the billionaire of today, and owning a newspaper was part of the panoply of any industrialist in search of respectability. He therefore sets his sights on this Tom Thumb of the economic press. Then, in 2007, he offered himself number one at a golden price, The echoes, sold by Pearson, and then sells The gallery. In serious financial difficulties, the daily was placed in compulsory liquidation in 2012.
“No economic relationship with the public authorities”
But rather than a search for influence, Bernard Arnault preferred to present his press adventures as opportunities that came his way. Thus, in 2020, he was asked by Claude Perdriel to buy 40% of the group Challenges, and by Arnaud Lagardère, who faced the activist fund Amber Capital. “He asked me if I was ready to participate in his limited partnership”, he tried to trace, pretending to try to ” get it right “. Difficult for him to ignore that in the business world it was rumored that he had rushed to the aid of Lagardère to avoid European 1, to JDD and to Paris Match to fall into the hands of Vincent Bolloré, a fear of Emmanuel Macron. “Our group has no economic relationship with the public authorities”, made a point of specifying this close friend of the President of the Republic.
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