The Les Echos-Le Parisien group has bought from its competitor Valmonde (“Current Values”) the monthly “Mieux vivre votre argent”, dedicated to savers, in order to strengthen its financial information center, announced Thursday to AFP its CEO, Pierre Louette.
This acquisition, the amount of which has not been disclosed, is part of the “strategy of strengthening strengths” applied “for four years by the group”, which recently offered the WanSquare site and the Letter from the ‘Expansion, intended for professionals and specialized in economic and financial information, explained its leader.
“Better live your money”, which claims 60,000 subscribers, thus joins the title “Investing” (50,000 subscribers) and the Boursier.com site, bought in 2019 from Lagardère. Enough to constitute the “first pole” of the sector in the media for individuals, the leader Boursorama belonging to the Societe Generale bank, assures Mr. Louette.
Created in the 1970s, “Better live your money” will continue to appear every month but its “site will join the ecosystem of + Investing +”, specified the general manager of the Les Echos & Thématiques pole, Bérénice Lajouanie.
New sections and infographics will enhance the magazine from the start of the school year, which is aimed at a wider audience, less expert on ways to make your money grow.
A promising niche at a time when “protecting one’s purchasing power and preventing one’s savings from melting away is a real political issue”, considers Mr. Louette.
A subsidiary of the luxury giant LVMH, Les Echos-Le Parisien has been increasing targeted acquisitions since 2018 and the appointment of Mr. Louette as CEO.
Owner of Radio Classique, the group, for example, bought the audiovisual producer of classical music EuroArts in the fall of 2021, two years after the thematic channel Mezzo (50/50 with Canal+) and one year after having acquired half of the capital of the Medici.tv platform, specializing in concerts and operas.
Bought by Valmonde from Altice in 2017, “Mieux vivre votre argent” will continue to employ around ten people, according to Ms. Lajouanie.
In 2021, the monthly sold more than 100,000 copies per issue on average, according to the Alliance for Press and Media Figures.