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France: Citizenside sells amateur footage of Société Générale trader for €100,000

Posted by admin on January 31, 2008 at 3:59 PM

An amateur video of former Société Générale trader Jérôme Kerviel, whose unauthorized activities caused the bank to lose €4.9bn, was sold to Paris Match and will bring in at least €100,000 in revenue. This is one of the first big deals for citizen imagery agency Citizenside.

The video depicts Kerviel as he signed his statement at the police station.

Paris Match bought the exclusivity of the video for the French press and was to publish excerpts today.

Citizenside was created in 2006 and is specialized in collecting footage and still pictures from amateurs, which it then sells to traditional media outlets.

“This video will generate at least €100,000 in revenues,” said Citizenside founder Matthieu Stefani. “The author will receive between 50% and 75% of this sum.”

Citizenside recently signed a partnership with news agency Agence France-Presse. “These images are a new source of information,” said Stefani, “we don’t do the same thing AFP does, we’re complementary.

Source: Le Monde

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