LVMH CEO, Bernard Arnault, continues its irresistible rise in the media world. According to several concordant sources, the billionaire has reached an agreement to buy the entirety of Bey Médias, the group founded by Nicolas Beytout, which publishes economic titles The Opinion et Agefi. Already owner of the echoes, Le Parisien, Classical Radio and shareholder of Challenges, Bernard Arnault thus strengthens his control over economic and political information.
A deliberate bet on an influential press
LVMH already held 25% of Bey Médias for several years, after having supported the creation of The Opinion in 2013. This time, the acquisition targets the entire capital, including the shares held by Thétys (the Bettencourt family holding company), the American Ken Fisher, and Rupert Murdoch. Previous attempts at sale, notably to CMA CGM or Daniel Kretinsky, had failed. It was therefore to his former protégé that Nicolas Beytout turned to finalize the deal. Bernard Arnault had appointed him head of echoes in 2007.
Si The Opinion continues to post losses despite several bailouts, its liberal editorial line remains valuable to the business community and influence networks. Nicolas Beytout is expected to retain his position as president and director of the publication. By further expanding his portfolio of economic titles, Bernard Arnault further establishes his power in the French media landscape.
