FRENCH AND SPANISH GROUPS OUT TO INCREASE HOLDINGS IN LE MONDE
January 10th 2008 00:46
Media groups Lagardere of France and Prisa of Spain want to substantially increase their minority stakes in French daily newspaper Le Monde, according to a report by Challenges.fr.
The web site of business weekly Challenges said that under the plan Lagardere would assume an operating role and Prisa would guarantee the editorial independence of the paper.
Reuters said Prisa owns 15 percent of Le Monde and Lagardere 17 percent. Both Lagardere and Prisa could not be reached immediately for comment.
Last month, two of the three new board members of Le Monde walked out on their jobs in a dispute with the newspaper editorial society SRM, which is also the paper's largest shareholder.
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