Word to the wise

It’s not easy to keep up with the brands in the LVMH stable. The French luxury behemoth owns household names such as Fendi, Celine and Bulgari but they’re only part of the story. While the company is famous for having a foothold in everything from watches to luxury travel, there’s also a lesser-known side to the business: media. And this operation might be about to grow. LVMH already owns Paris-focused tabloid Le Parisien and business-news daily Les Echos; now it is reportedly holding talks with publishing group Lagardère over the purchase of its storied weekly Paris Match for an undisclosed fee.

The potential sale might not be a huge surprise to everyone: after all, LVMH’s chairman and CEO, Bernard Arnault, has a long history with Lagardère. Nonetheless, it would mark a significant change in the media landscape. While the heyday of weeklies such as Paris Match might have passed, it’s easy to see why LVMH would want a slice of a brand that conjures up a sense of nostalgia and images of sun-kissed high-society shenanigans. I can still remember flicking through its pages on childhood summer holidays in France; its red, white and black logo is impossible to forget.

Deep-pocketed benefactors stepping in to fund (and potentially reinvigorate) heritage titles is something to be applauded. It’s certainly one way to secure the future of print media – an approach that has been pioneered by the likes of Jeff Bezos, who bought The Washington Post for $250m (€230m) in 2013. But owners also need to ensure that they stay away from the news and allow journalists to get on with their jobs. LVMH has been guilty of blurring the lines in the past. Staff at Les Echos went on strike last year over alleged editorial interference by its owner and Le Parisien has also raised similar concerns about Bernard Arnault’s involvement. Whether the deal goes through or not, LVMH should see the potential acquisition of Paris Match as a fresh opportunity to be decidedly hands-off.