Memo Pad: Arnault's Expanding Empire... Everywhere, All the Time...

Bernard Arnault has a new toy - and he got it just in time for Christmas.

ARNAULT'S EXPANDING EMPIRE: Bernard Arnault has a new toy — and he got it just in time for Christmas. Arnault's LVMH Moët Hennessy Louis Vuitton concluded its controversial acquisition of Les Echos, France's leading financial newspaper, on Monday, according to a statement released by the luxury giant. Purchased from Britain's Pearson plc for 240 million euros in cash, or $345 million at current exchange rates, the deal also includes the newspaper's Web site, as well as Groupe Les Echos SA's monthly business magazine Enjeux and other financial information services. Over the weekend, France's Minister of Economy Christine Lagarde highlighted certain conditions of the sale, which include LVMH's relinquishment of the competing French business daily La Tribune and its Web site. A statement released by LVMH on Monday confirmed it had signed an agreement to sell La Tribune to Alain Weill, owner of NextRadioTV. Arnault's proposed purchase of Les Echos stirred intense opposition from its journalists, who charged his ownership of the paper would threaten its editorial independence. LVMH's other media holdings include the Investir financial weekly, the monthly Connaissance des Arts art magazine and the Radio Classique music station. — Katya Foreman

EVERYWHERE, ALL THE TIME: As hard as it may be to believe, the presidential candidates are going to become even more ubiquitous — and Glamour is doing its part. On Wednesday, Hillary Clinton became the first of what the magazine hopes will be many presidential candidate guest "bloggers" (actually just brief essays or answers to commenters' questions) on its Web site. "As a young woman, I was reminded daily of what I couldn't do — the schools I couldn't attend, the sports I couldn't play, the jobs I could never have," Clinton wrote, adding, "I watched my daughter and her friends grow into capable young women, watched them compete with men in every field — politics, finance, medicine, law. I watched them get involved in my campaign because they've grown up being told by their parents and teachers that anything is possible and they want to see me prove it." It's no coincidence Clinton is the first to appear on the site: Her campaign officials contacted Glamour when they heard about Glamocracy, its blog featuring daily posts from five women on different points of the political spectrum — presumably as part of Clinton's effort to appeal to women voters. John McCain is the only other candidate confirmed so far.
  • 1
  • 2
Next »
load comments


Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

getIsArchiveOnly= hasAccess=false hasArchiveAccess=false