Paris Party has officially come under the control of LVMH: the luxury giant, led by billionaire Bernard Arnault, and the Lagardère group, led by Vincent Bolloré, announced on Tuesday 1Ahem October the completion of the sale of the weekly that began in February.
“I would like to warmly thank Vincent Bolloré and Arnaud Lagardère [PDG du groupe du même nom] that today they pass the torch to us”Arnault, who had already tried to buy the weekly in 2021, declared in a statement. By integrating LVMH, Paris Party becomes its own brand, independent of the press group “Les Echos-Le Parisien”, also owned by the luxury giant, it is specified.
Entity of the group chaired by Arnaud Lagardère definitively absorbed by the Vivendi group since the conclusion, at the end of November 2023, of the public purchase offer (OPA) launched in 2022 by Vincent Bolloré. Paris Party changes ownership once again.
Valued at 120 million euros
The new company will be chaired by Jean-Jacques Guiony, chief financial officer of the LVMH group and member of the executive committee, “who will perform these functions in addition to those currently performed”details the press release.
“Pierre-Emmanuel Ferrand, until then general director of Lagardère News [chargé] press and digital (…) becomes general director of Paris Party »the text continues. Besides, “Jérôme Béglé remains at the head of the editorial team, as general editorial director” while converting “newspaper editorial director”.
At 75 years old, this emblematic title of photojournalism, whose slogan has long been “the weight of the words, the shock of the photos”It combines important war reporting and immersion in the privacy of stars and politicians. Valued at 120 million euros, it still sells more than 440,000 copies every week.
