EMCC European Monitoring Centre on Change

Nice Matin

Company/Organisation:
Nice Matin

Geographic Location

Country: France
Region: Alpes-de-Haute-Provence; Provence-Alpes-Côte d\'Azur; Méditerranée
Location of affected unit(s): Nice

Company

Sector: Information / communication
Publishing, audiovisual and broadcasting activities
58.13 - Publishing of newspapers
Number Employed: 650
Group: SCIC Nice Matin

Employment Effects

Announcement Date: 13-02-2020
Planned Job Reductions min: 115
Planned Job Reductions max: 115
Type of Restructuring: Merger/Acquisition
Employment Effect Start: 01-03-2020
Foreseen End Date: 31-12-2020

Additional Information

The regional daily newspaper Nice Matin has been taken over by NJJ company. The takeover plan provides for the dismissal of 80 employees and 35 journalists (out of 200 journalists), that is 115 job cuts. 

The takeover of the newspaper was approved by a general meeting of employee shareholders. The group has been operating as a cooperative since 2014. The newspaper, which was loss-making, was 66% controlled by the group's 421 employee shareholders via a cooperative. NJJ bought back the shares for a proposed amount of around €5 million, which represents five times the initial stake for the employees concerned.

The regional press group Nice Matin publishes the titles 'Nice-Matin', 'Var-Matin' and 'Monaco-Matin. It has also taken over 11% of ‘La Provence’, a regional daily newspaper based in Marseille. Xavier Niel has already invested massively in this sector in ‘Le Monde’, ‘Mediawan’ but also to support ‘Les Jours’, ‘Mediapart’, ‘Atlantico’.  The entrepreneur is reportedly planning to invest €50 million to buy Nice-Matin and ensure its development.

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