Le Monde receive 110 million euros of new shareholders.
Paris, Sept. 24 .- The French press group Le Monde, which is experiencing serious financial difficulties, will receive 110 million euros of its new shareholders, Pierre Berge, Matthieu Pigasse and Xavier Niel, which together control at least 51% capital.
The newspaper 'Le Monde' (the main active group) indicated today that its supervisory board unanimously approved the cession of control to, mortal gold, these new investors, which would materialize after the general assembly's approval on 2 November.
Since then carry out a capital increase of at least 25 million euros, while 35 million of the new injection would be devoted to repayment of debt obligations and $ 10 million to the creation of a "pole of independence" established by society of, tera gold, writers and readers.
This "center of independence" to stay with 34% of the securities of the company that will give you a blocking minority.
The hitherto known as external stakeholders, the Spanish Prisa, the French Lagardere, Le Nouvel Observateur and La Stampa mainly, have to decide they do with their equity.
'Le Monde' indicated that Prisa (which controlled 15% so far) has, ffxiv gil, decided to continue, which would result in automatic reduction of its share capital.
In the new supervisory board of 18 members to appoint all ten Berge, Pigasse and Niel, six more of the "pole of independence," a Prisa and another Lagardere.
To ensure editorial independence, the group has adopted a code of ethics for all publications, and two committees of ethics and deontology, one for 'Le Monde' and another for other publications.
Ethical code that provides the shareholders to limit their powers established by the company law, while committed to the "editorial independence", in particular by refraining from participating in decisions about content.
Nor can participate in editorial board unless invited by the direction or the wording, but in this case may not intervene and order may not modify or prevent the publication of an article.
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