• September 25.2008

AP France to be bought by Bolloré and Bertrand Eveno.

Posted by Cyril Gros on December 17, 2007 at 11:25 AM
Vincent Bolloré, Bolloré Group founder and French media tycoon will soon be one of the two owners of the French branch of the Associated Press.

Bolloré and former Agence France Presse (AFP) CEO, Bertrand Eveno, will respectively own 40% and 60 % of the company.

The AP is one of three news agencies to service France along with Reuters and AFP.

The current financial situation of the AP in France is critical, with more than one million euros of losses every year.

AP wanted to leave the French market without engaging into any social conflict. In compensation for backing the company in the middle of the financial crisis, Bolloré got a deal giving him right to use all the news the agency delivers all over the world.

This deal will give him a way to supply his channel Direct 8 and his two freesheets, Matin Plus and Direct Soir with information.

Source: Le Monde through IFRA Executive News Service.

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