'La Tribune' Newspaper Staff Fear For the Future

29 June 2007

PARIS: Staff at French daily business newspaper La Tribune have expressed fears that the title could sink if it is sold by its owner, luxury brands firm LVMH, to pursue acquisition of rival Les Echos.

LVMH ceo Bernard Arnault is in exclusive negotiation with UK-headquartered media group Pearson for Les Echos, but it is unlikely French competition regulators would allow the firm to own both titles.

La Tribune employees have reportedly been told their newspaper will be sold quickly in the event of success with Les Echos. The offer under discussion with Pearson is between €230 million ($308.5m; £154.6m) and €250m

La Tribune lost €12m last year and a bigger loss is projected this year due to redesign costs.

Data sourced from Financial Times online; additional content by WARC staff