Liberation bailed out by Czech billionaire Daniel Kretinsky
The Czech billionaire Daniel Kretinsky lends 14 million euros (13.5 million francs) to Liberation to ensure “the financing of the title till its return to equilibrium” in 2026, introduced Tuesday the Unbiased Press firm, proprietor Day by day.
Along with this mortgage, Mr. Kretinsky, via his basis, is donating a million euros to the ‘Endowment Fund for an Unbiased Press’ (FDPI), majority shareholder of Unbiased Press, in keeping with an inside announcement. by the managing director of Liberation, Denis Olivennes.
Paid ‘within the type of bonds’, the mortgage ought to make it potential to cowl the losses of the title, in deficit regardless of robust development in its gross sales, whereas preserving its ‘independence’, in keeping with the impartial press launch.
The FDPI, to which Patrick Drahi’s Altice group bought Liberation two years in the past, ‘welcomes the arrival at its facet’ of a ‘new high quality associate’, seeing it as ‘a pledge of confidence in the way forward for the newspaper’, in keeping with the textual content.
Additionally quoted within the press launch, Daniel Kretinsky, boss of CMI (‘Elle’, ‘Marianne’…), says he’s ‘joyful to thus take part within the perpetuation of an impartial newspaper which is important to the democratic debate’.
Denis Olivennes introduced in July that he was searching for 15 million euros for Libé. The return to equilibrium had been postponed from 2023 to 2026, due particularly to slower than anticipated improvement in promoting, aggravated by the pandemic.
Diminished working loss
In Tuesday’s press launch, the chief assures that ‘Liberation has entered absolutely into the digital subscription revolution’ and boasts of the ‘strongest enhance within the distribution of the nationwide day by day press’ noticed ‘for a yr and a half’.
In accordance with the ACPM, Liberation bought greater than 93,000 copies day by day over the interval 2021-2022, a rise of 11.14% in comparison with 2020-2021.
In 2021, its turnover reached 31.5 million euros, up 10%, and working losses had been lowered to 7.9 million towards 12.3 million in 2020.
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