Bernard Arnault. Photo by Stephane Mahe/Reuters
As Meduza notes, citing Le Monde, Arnault has been expanding his presence in the media sector for several decades by acquiring key French media outlets, including Les Echos, Le Parisien, Radio Classique, Paris Match magazine, and the business weekly Challenges. After the change in ownership, the editorial teams faced regular interference in editorial policy matters.
Control Over the Media and Focus on LVMH’s Competitors
The authors of the investigation claim that particular attention was paid to coverage of LVMH’s competitors. Publications owned by Arnault rarely covered the successes of Hermès and Kering, while negative news about rivals received more prominent coverage. Furthermore, according to the newspaper, the holding company’s management frequently participated in discussions regarding the most sensitive articles concerning LVMH’s activities and the Arnault family.
The investigation also cites examples of alleged political influence. For instance, according to Le Monde, in 2021, a daily political program on Arnault’s Radio Classique was canceled following a dispute over the invitation of representatives from left-wing parties. The newspaper links this to the billionaire’s conservative views and his reluctance to give airtime to politicians who advocated for higher taxes on the ultra-wealthy.
Advertising as a Tool to Exert Pressure on the Media Market
A separate section of the investigation is devoted to LVMH’s influence through advertising. According to Le Monde, the world’s largest luxury goods manufacturer is capable of using its advertising budgets as a tool to exert pressure on the media. As an example, Le Monde cites a story from the late 1980s: following the publication of a critical investigation into Bernard Arnault’s business, LVMH withdrew its advertising from the media holding company that owned the publication.
The newspaper also recalls the case of Bernard Squarcini, the former head of French counterintelligence. According to the case files, investigators determined that he carried out assignments for LVMH involving the collection of information on journalists and activists. The company avoided criminal prosecution by reaching an agreement with the prosecutor’s office and paying €10 million, while Squarcini was subsequently sentenced to four years in prison.
The Alliance of Big Business and Its Influence on the French Media
Le Monde devotes special attention to Bernard Arnault’s relationship with another influential French media mogul, Vincent Bolloré. According to the publication, the collaboration between the two entrepreneurs contributed to further concentration of the media market and strengthened the influence of major business groups on France’s news agenda.
LVMH publicly denies allegations of interfering with the editorial independence of the publications it owns. However, Le Monde’s investigation has once again raised the question of the influence of France’s leading business figures on the media market: when the owners of the largest companies also control news outlets, the line between journalism, corporate interests, and political influence becomes increasingly blurred.
