Billionaire Power Play: Sterin's Media Acquisition Ambitions

Pierre-Edouard Sterin, a prominent conservative billionaire in France, has taken a strategic step in expanding his media footprint by participating in the acquisition of the right-wing magazine Valeurs Actuelles. This development was confirmed by the involved parties on Friday.

The acquisition underlines the growing competition for political influence in France as the 2027 presidential election approaches. Sterin, who previously attempted to purchase the media group Lagardere, aligns himself with influential French billionaires who hold stakes in major television stations and newspapers, entities that have the potential to shape public opinion in a politically divided nation.

The consortium of buyers, which includes Sterin, Benjamin La Combe, and the Caude family, announced the intended takeover to the magazine's staff, though the financial specifics of the deal have yet to be revealed. The landscape of French media ownership features figures such as Vincent Bollore, who owns significant shares in Vivendi and television channels C News and Canal Plus, and Bernard Arnault of LVMH, proprietor of the business publication Les Echos.

(With inputs from agencies.)