Tuesday, June 13, 2006

More French Socialists Learning Economics

Another one (Jean Paul Sarte's ami) bites the dust:

PARIS, June 13, 2006 (AFP) - Serge July, historic founder of the left-wing French newspaper Libération, was poised to resign Tuesday after a row with the principal share-holder Edouard de Rothschild over the paper's mounting losses.

July told AFP that Rothschild had asked him to step down as chairman of the newspaper. "If my departure can help the refinancing of the newspaper, I will not be an obstacle," he said.

.... Rothschild, who invested EUR 20 million in Libération in January 2005, is furious at the paper's continuing losses and at a meeting last week demanded July's resignation as a condition for new finance, several French newspapers reported Tuesday.

....A 63-year-old former Maoist, July set up Libération with philosopher Jean-Paul Sartre in 1973, aiming to give voice to the counter-culture of the post-May 1968 generation.

Originally the newspaper was supposed to be free from the pressures of advertising and investor finance, but it has gradually had to accommodate itself to a capitalist economy.

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