The newspaper has been sold to regional press group France-Economie-Regions and Web group Hi-Media and will begin publishing a weekly edition instead, as well as pushing its website more, according to paidContent. The new owners plan to cut 89 of the publication’s 127 jobs.
FER and Hi-Media bought the struggling newspaper for 150,000 euro, and will invest about seven million euro into the business.
“LaTribune,fr has two million regular visitors. We want to increase this to three million by 2013,” said Jean-Christophe Tortora, head of FER and president of Groupe La Tribune, according to RFI.
La Tribune has been bought and sold by six different owners in its 27 year history. In this latest changeover, it was also bid on by investment fund La Financiere Patrimoniale d’Investissement.