Why does the term “billionaires” to describe media owners bother you?
That term deeply bothers me. It’s inaccurate because not all media are owned by billionaires. Furthermore, “billionaire” carries negative connotations and falsely suggests that the media are under their control, implying dependence on economic powers and even political influence. It’s unfortunate that journalists themselves sometimes use the term, implying subjugation to the industrialists who own them.
Does the presence of billionaires in media concern you personally?
Indeed, over the past decade we’ve seen increased media concentration, as part of a broader trend of industrialization. The sector faces critical transformation needs — from print to digital, changing consumption habits, and new competitors like social media and video platforms. Industrial investors are necessary, but it's also crucial to prevent them — regardless of their background — from interfering in editorial decisions. We must preserve media independence from both economic and political power.
In summer 2023, Vincent Bolloré’s takeover of the JDD led to a mass journalist departure. What’s your view?
That case is especially symbolic — the JDD is a French press institution. Bolloré’s acquisition and appointment of Geoffroy Lejeune, a former far-right magazine editor, shows a clear intent to shift its political line toward conservative values. That’s not necessarily the case with other owners like Saadé, Niel, or Kretinsky. Bolloré does not represent all media owners.
That said, if a private company wants to give a certain political orientation to its media outlet, that falls under freedom of enterprise and expression. Journalists are protected by their exit clause — allowing them to leave with severance in case of a major editorial change.
Why does so much debate seem to focus specifically on Vincent Bolloré?
Because he embodies the issue in a highly visible way. By contrast, no one complains about Xavier Niel at Le Monde or Crédit Mutuel at Ebra. Bolloré’s conservative positioning challenges much of the media world. But what worries me more than ownership is the general public’s lack of understanding of the economics of information. Few realize how expensive it is to verify, process, and prioritize information — costs no one wants to cover. That’s the real problem.
Would you say industrialists are essential to media survival?
Media need funding — not necessarily billionaires. But let’s face it: they’re often essential to provide the funds needed for investment and innovation. In today’s environment of free information and shrinking advertising revenue, media outlets struggle to cover production costs. If news were sold at its real production cost, most French citizens couldn’t afford it.
Why do industrialists invest in unprofitable media outlets?
Influence. Owning a media outlet offers soft power. But media are vital to democracy — we need quality information, produced through a reliable and independent process. We therefore need a strict framework to guarantee journalistic freedom.
New entrepreneurs are exploring models that meet younger audiences’ expectations. Mediapart, for instance, is fully funded by subscriptions — no ads or subsidies. That works for investigative journalism, but is harder to apply to general media. And let’s remember: 82% of French people don’t pay to get their news.
What’s your view on billionaires buying ESJ Paris (a journalism school)?
We must be cautious — though I don’t yet know what impact that will have. There’s historically been a link between journalism schools and media companies. But journalism education in France is complex: only 14 schools are officially recognized, while about 100 others exist — many private and not recognized. The student body lacks diversity — mostly from privileged backgrounds — and schools struggle to recruit broader profiles.
Do you support a new anti-concentration law like the 1984 “anti-Hersant” law?
The anti-Hersant law was never very effective. I’m not calling for an anti-Bolloré law, but we do need updated legislation on concentration — covering all media, especially digital. It should take market share into account and prevent monopolies.
Media are a public good produced by private companies, regulated under the 1881 press law and the 1986 audiovisual law. The latter guarantees freedom of communication and pluralism. Today’s anti-concentration rules are outdated, given how digital our media habits have become. We must update the regulatory framework to include traditional media, social networks, and platforms.
What happens if we don’t include social media in this reform?
We already see the dangers: fake news, hate speech, conspiracy theories, and interference in elections. The U.S. presidential campaign is a prime example — Trump campaigned on X, owned by Musk. In Romania, far-right candidate Călin Georgescu went from 9% to 23% in one month — thanks to TikTok.
In my book The New Media World, I argue for regulation of these powerful actors. In just 15–20 years, they’ve taken over multiple sectors, including media, raising major concerns about power concentration. Social media now dominate news access. Their owners — more powerful than some states — operate in oligopolistic positions, both upstream and downstream in the information chain. Google and Apple control access, monetization, and even content censorship. Algorithmic governance can manipulate what we see, leading to fake news proliferation.
Their algorithms are opaque, their financial power dwarfs that of the media, and they impose their own rules. This endangers democracy — creating risks of foreign interference, electoral manipulation, and loss of free will, as sociologist Shoshana Zuboff warns.
How can France regulate social media effectively?
We must act quickly. I propose two main levers:
Legislation: At the European level, the Digital Services Act (DSA) and the European Media Freedom Act have been adopted. We hope they’ll impact moderation and platform accountability. But simply transposing them into French law isn’t enough — we need proper enforcement and penalties for violations.
Education: Public authorities must invest in media literacy and digital citizenship. This must be a national priority — to give power back to users, not just as consumers but as citizens. Rebuilding democracy in the digital age means helping everyone understand how information is produced and spread.
