The Hersant group is close to exhaustion. Its free sheets branch Comareg is bankrupt. Its newspapers are in deep trouble. However endless negociations go on with the banks and a prospective buyer, groupe Rossel. 20 banks are hard to agree, specially in this time of financial crisis. Rossel is willing to move forward but at its conditions, which means a complete reorganization of the newspapers and 700 hundred jobs in jeopardy.
It is obvious that Hersant family will have to dramatically reduce its share in the group, the ownership beeing shared between Rossel and the main banks. It is also plain that Hersant will have to sell its jewels, the othersea publications, France Antilles and co.
Will the matters be settled before the end of the year? I doubt it. Group Hersant is moving towards unchartered territory.