World Business

Billionaire Bernard Arnault Gains Control of Paris Match Magazine

Story Highlights
  • A summer 2022 Paris Match cover featuring Cardinal Robert Sarah caused unrest.
  • Editor Bruno Jeudy was replaced by Laurence Ferrari.
  • Vincent Bollore's media outlets are criticized for far-right bias.

The luxury conglomerate LVMH, led by Bernard Arnault, officially acquired the French magazine Paris Match in a deal worth 120 million euros ($133 million), as announced earlier in February. The acquisition by Arnault, one of the world’s richest men, was confirmed in a statement from LVMH.

Previously owned by media mogul Vincent Bollore, Paris Match has faced criticism for Bollore’s alleged editorial interference, aligning the magazine’s content with his conservative views. The publication still sells 440,000 print copies weekly and is known for its focus on French cultural and political figures, as well as its fascination with the British royal family and other European monarchies.

Globally, Paris Match is recognized for its exceptional photojournalism, including coverage of conflict zones. Despite the acquisition, LVMH has not commented on its future plans for the magazine.

A Paris Match journalist, speaking anonymously, noted a desire to restore the magazine to its former glory and rehire staff after numerous departures. They acknowledged a sense of relief in the newsroom following the acquisition, hinting at possible changes after the Bollore era, which had seen an increased focus on topics related to Catholicism.

Although the editorial direction remains unclear, the team has been invited to a meeting to discuss the future strategy. Many anticipate a shift away from Bollore’s influence on the content.

he summer of 2022, Paris Match sparked controversy with a cover featuring ultra-conservative Cardinal Robert Sarah, which led to discontent among staff. Shortly after, political and economic editor-in-chief Bruno Jeudy was replaced by Laurence Ferrari, a former anchor for the conservative news channel CNews.

Vincent Bollore, whose Vivendi group has absorbed the media assets of fellow tycoon Arnaud Lagardere, now controls influential right-leaning publications, including the Journal du Dimanche (JDD) and weekly JDNews. Critics often accuse CNews of being a platform for France’s far-right voices.

While Bernard Arnault, head of LVMH, maintains regular contact with centrist President Emmanuel Macron, he too has faced scrutiny for his stance on press freedom. According to La Lettre, a media industry insider publication, Arnault has blacklisted seven media outlets, prohibiting LVMH executives from speaking to them. This move has raised concerns about his commitment to journalistic independence.

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