FRENCH TIES: La Tribune, the French financial newspaper once owned by LVMH Moët Hennessy Louis Vuitton, has new owners — and has ceased daily publication. The Paris commercial court accepted an offer for the troubled title from France Economie Régions and Hi-Média, which vowed to preserve the jobs of 50 employees, including 31 journalists — roughly a third of the workforce. La Tribune will continue to publish news on its Web site, which receives roughly two million unique visits a day, and create a new weekly tabloid with national distribution. The first is to hit newsstands on April 6 with a print run of 100,000. The cover of the farewell edition on Monday depicted the front page going up in flames.
LVMH now owns rival French business daily Les Echos, which it bought in 2007 from Britain’s Pearson plc.
This story first appeared in the January 31, 2012 issue of WWD. Subscribe Today.