Czech billionaire throws lifeline to French leftist daily ...Middle East

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Czech billionaire throws lifeline to French leftist daily
PARIS: Czech billionaire businessman Daniel Kretinsky has agreed to finance the loss-making French left-leaning daily Liberation until it breaks even, the paper's owners said Tuesday.Kretinsky, already heavily invested in French media as owner of Elle magazine and part-owner of the daily Le Monde, will lend Liberation 14 million euros (dollars) to help stem losses until its projected breakeven in 2026, Presse Independante said.In addition, Kretinsky's foundation will inject one million euros into the Fund for the Support of Independent Media (FDPI), the majority-owners of Liberation, according to an internal announcement made by Liberation's Managing Director Denis Olivennes.Tuesday’s statem

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