NEWS HOUND: Bernard Arnault plans to add another media outlet to his empire. LVMH Moët Hennessy Louis Vuitton, already owner of financial daily Les Echos, said Tuesday it has entered into exclusive negotiations to buy daily newspaper Le Parisien and its national counterpart, Aujourd’hui en France, from the French family-owned Groupe Amaury.
“This well-known and respected publication would make a material contribution to our group through its strong complementarity with our current titles,” stated Francis Morel, chief executive of Les Echos group.
The acquisition is subject to consideration by the Groupe Amaury works council and is conditional upon approval by competition authorities.
Groupe Amaury couldn’t be reached for comment.
In 2014, the paid circulation in France of Le Parisien was 229,638, down 8.2 percent compared with 2013, according to France’s Circulation Audit Bureau. Domestic paid circulation of Aujourd’hui en France was 148,220, making it the fourth-largest national newspaper in terms of circulation.