Czech billionaire Daniel Kretinsky lends 14 million euros to “Liberation”

Czech billionaire Daniel Kretinsky lends 14 million euros to “Liberation”

It is going to subsequently be 14 million euros. In keeping with the data circulating for the reason that finish of the summer season, the boss of the Czech media group Czech Media Make investments (CMI), Daniel Kretinsky (who can also be an oblique shareholder of the World) flies to assistance from Launch. Nevertheless, opposite to the figures that accompanied the rumor, the sum placed on the desk doesn’t flirt with twenty million euros. The Power Tycoon’s Group “will subscribe to a bond for a most quantity of 14 million euros, repayable in 4 years, issued by Impartial Press SAS, the construction owned by FDPI [Fonds de dotation pour une presse indépendante] and possessing Launch »detailed Denis Olivennes, the president of the SAS unbiased press holding firm, in a communication to workers. A rare CSE was convened urgently on Tuesday, September 20 within the morning to formalize with elected officers the arrival of this new ” accomplice “.

“Though we’ve halved the newspaper’s losses in 2021, and by nearly 25% on the finish of August 2022, we nonetheless want cash to assist our return to equilibrium, anticipated in 2026”recalled the chief. In 2021, the each day’s losses amounted to 7.9 million euros, in comparison with 12 million in 2020. Regardless of this encouraging development, the deadline to interrupt even, initially set at 2023, has turn out to be out of attain. scope for the reason that well being disaster and the rise within the value of paper entered the economic system.

Learn additionally: Article reserved for our subscribers Brussels needs to legislate to protect the independence and freedom of the media in Europe

Strengthened worker vigilance

The now former co-manager of Launch (Denis Olivennes handed over the perform to Amandine Bascoul-Romeu firstly of the summer season) says he has turned “naturally” in direction of Mr. Kretinsky – after having presided over CMI France, he’s nonetheless one in every of its directors – when a successor to Patrick Drahi needed to be discovered. The boss of Altice not needed to place a reimbursement into the each day newspaper which he had positioned, in 2020, within the Endowment Fund for an Impartial Press, supposed to ensure the independence of the newspaper.

Past these 14 million, the industrialist has “Agreed with FDPI for its basis to assist the motion of the latter, which might notably take the type of a donation of 1 million euros and illustration on the board of administrators of the fund”. By linking its charitable group EP Company Group to the endowment fund that owns Impartial Press SAS and, in the end, Launchthe boss of CMI (Marianne, She, Maverickand many others.), which assures in a press launch “consider sooner or later” of Launchsubsequently obtains a submit of administrator.

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