LVMH’s Bernard Arnault adds ‘Paris Match’ to media empire
The French weekly Paris Match, known for its exclusive news reporting, became part of the media empire of France’s richest man, Bernard Arnault, on October 1. The acquisition, valued at 120 million euros ($128.4 million), was first announced by Arnault’s LVMH Group in February, and LVMH subsequently confirmed the purchase of Paris Match in a statement. LVMH, which already owns the daily Le Parisien and the business newspaper Les Echos, stated in a joint announcement with the former owners that the deal "marks the beginning of a new chapter in the history of Paris Match," which was founded in 1949.