When death approached, unlocked her silent throat
The iconic French newspaper Le Monde is about to begin a new chapter of its complicated history. Last September, what remains France’s most influential paper changed hands (see story in NY Times).
Le Monde is now owned by a triumvirate: Xavier Niel, a telecom entrepreneur, provided the bulk of the €110m ($130m) injected in the venture; Matthieu Pigasse, head of Lazard France, and Pierre Bergé, co-founder of Yves Saint-Laurent fashion house. Now, as the paper prepares to replace its editor, the new owners’ turnaround operation faces tough challenges. (…)
The new shareholders — who define themselves as owners — were first viewed as saviors. Plenty of money, a strong industrial and financial track record for Xavier Niel and Mathieu Pigasse. As for the older Pierre Bergé (81), he was portrayed as the gentle philanthropist who arranged for Le Monde’s staff to retain a minority stake in the new capital structure. These idyllic feelings quickly evaporated as the paper’s management proved unable to present a well-thought-through strategic plan to their new bosses. After dawdling for a few months, the owners jumped to action, the hard way.
