Denis Olivennes takes the head of Liberation

The daily will leave the fold of the Altice group to turn into a foundation for the press

. The former boss of Canal +, Nouvel Obs then Lagardère Active and finally president of CMI France, a group of Daniel Kretinsky has been appointed general manager and co-manager of the newspaper Liberation, replacing Clément Delpirou according to information disclosed by AFP.

He arrives at the head of the daily when it leaves the fold of the Altice France group to be transferred to an endowment fund for the press. Patrick Drahi, CEO of the Altice group, has planned to endow this fund with around sixty million euros in order to absorb the cumulative past losses which amount to between 40 and 45 million euros and to ensure the cash flow. necessary to last a few years.

200 employees including 172 press cards

The history of the daily created in 1973 is punctuated by stages. The difficulties have been accumulating since 2006. On the verge of bankruptcy, the daily was saved by Patrick Drahi in 2014, which formed a press group with Liberation and the magazine l’Express. Today, Altice is separating from this activity. L’Express is sold to Alain Weill and Liberation housed in an endowment fund for the press

With 200 employees including 172 press cards, Liberation has a paid distribution in France of 71,800 copies in April (-5.5%) according to figures from the ACPM. Its digital audience grew strongly during the lockdown with 41 million visits to the site (+ 138%) and 2.8 million visits to the app. However, the daily has not yet fully started its transformation towards a digital subscription model with only 26,000 paying subscribers at the end of April.

Denis Olivennes takes the reins of the newspaper at a difficult time for the press. The Presstalis crisis cost all dailies money and the fall in advertising revenues weakened the model. He will have to reassure the editorial staff, straighten the accounts and continue the transformation of the economic model.

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