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Monday, December 5, 2022
HomeWorld€14m loan to French newspaper Liberation from Czech news group

€14m loan to French newspaper Liberation from Czech news group

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This is the Czech media group Czech Media Invest (CMI), owned by Czech businessman Daniel Kretynsky

A loan of a total amount of 14 million euros will be received by French newspaper Liberation from the Czech media group Czech Media Invest (CMI), which is owned by Czech businessman Daniel Kretynsky. This is reported by the French newspaper Le Monde, in which Kretinsky is also an indirect shareholder.

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The Czech energy magnate’s group “will subscribe to a bond for a maximum amount of 14 million euros, payable over four years, to be issued by Independent Press SAS, the owner of Liberation,” according to its manager Denis Oliven.

“Although we have halved the newspaper’s losses in 2021 and nearly 25% at the end of August 2022, we still need money to support our return to break-even, which is planned for 2026,” Oliven said in a statement. noting that in 2021, the newspaper’s losses amounted to 7.9 million euros, compared to 12 million in 2020.

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Megan
Megan
I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.

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