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Article: Flotation will not water down Le Monde's style.
- Article from:
- Sunday Business (London, England)
- Article date:
- May 26, 2002
CopyrightCOPYRIGHT 2002 Sunday Business Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FEW newspaper staffs get the right to elect their own editor. But as Le Monde, the authoritative French daily, prepares for a stock market flotation, its journalists are hoping their fiercely-guarded independence will survive the demands of the marketplace.
In a calculated play-off between retaining that independence and the need to raise fresh funds to pursue its development, Le Monde is poised to sell between 20% and 25% of its equity, marking a radical break with its past as a paper whose journalists owned a majority of the share capital.
Jean-Marie Colombani, the editor and director of the management board, expects to raise around e100m (pound ...