France-Antilles will soon be back in newsstands. The commercial court of Fort-de-France validated this Tuesday the takeover offer of the businessman Xavier Niel who will be able to take over France-Antilles , the only daily newspaper in Martinique, Guadeloupe and Guyana, put in liquidation end January.
The company NJJ, Xavier Niel's personal holding company, proposed at the beginning of March to resume the three editions of the daily newspaper, and to keep 126 of the 235 employees of the group.
An “economically sound” offer
The court validated its takeover offer, following the opinion of the Advocate General, who said a week ago favorable to the offer of the businessman, deemed "solid on the economic plan ”. The businessman's goal is to be able to restart daily life in April.
"I am delighted with this decision which should allow the West Indians and Guyanese to regain access to a high quality regional daily press", reacted the Minister of Overseas Annick Girardin in a statement to AFP. "Defending and preserving a free and plural press in our overseas territories is above all defending democratic life," she added.
The Fort-de-France commercial court has validated @ Xavier75's takeover offer for #FranceAntilles. This will allow residents to find a quality regional daily press. To defend and preserve a free and plural press is to defend democratic life!
- Annick Girardin (@AnnickGirardin) March 17, 2020A series of twists and turns
Xavier Niel had made known his intentions to take over the three editions of the daily newspaper after the deadline, after the liquidation of the newspaper. But on February 18, the commercial court had exceptionally decided to extend the group's activity until March 10, in order to allow the founder of Free and co-shareholder of Le Monde, who has just bought Nice-Matin , to do an offer.
Totally unexpected rebound, this Tuesday, February 18. The commercial court of Fort-de-France pronounced the continuation of activity of France-Antilles until March 10, to allow a possible takeover offer to be filed, before March 2. .co / DnzIryaxRA
- France Antilles Gpe (@FAGuadeloupe) February 19, 2020France-Antilles has ceased publication since February 1 and France-Guyana since January 25.
A project estimated at 8 million euros
NJJ has indicated that it wants to keep a daily edition of the paper edition, but could reduce its pagination. In the West Indies, it plans to centralize printing in Guadeloupe and the transport of newspapers by boat or plane to Martinique. For Guyana, the subcontracting of printing and distribution is envisaged, but the offer would only be digital at first. NJJ also wishes to strengthen the digital offer of the newspaper, but also to develop the group's event activity, through the organization of festivals or concerts.
The project is estimated at 8 million euros. NJJ puts on the table 3.5 million, the rest coming from public funding (subsidies from the Ministry of Culture and "local authorities of Guadeloupe and Martinique") and a loan from the Economic and Social Development Fund.
Created in March 1964, France-Antilles, former subsidiary of the Hersant group, was in receivership since June 25, 2019.
Media
"France-Antilles": Xavier Niel improves its offer and proposes to take on 126 employees
- Guyana
- Martinique
- Xavier Niel
- Guadeloupe
- Media
- Hurry
- West Indies