LVMH-owned newspaper group Les Echos-Le Parisien is no longer involved in a lawsuit against Elon Musk's X, contrary to its initial announcement, according to a court official and four industry sources. The media outlets, including publications owned by Le Monde and Le Figaro, had previously stated their intent to sue X to seek compensation for content displayed on the platform.
The proposed fees, aimed at ensuring the availability of journalistic content on digital platforms while providing publishers with financial stability, are mandated under the EU's copyright regulations.
The decision to withdraw the lawsuit signifies a shift in plans, eliminating a potential confrontation between LVMH, its CEO Bernard Arnault, and Musk, who is recognized as the world's wealthiest individual.
Les Echos-Le Parisien notified executives from other newspapers of its decision not to proceed with the legal action, citing unspecified reasons. While a spokesperson for Les Echos-Le Parisien confirmed past threats against X, mention of ongoing discussions was made but not elaborated upon.
The joint efforts of the media groups led to a court order in May 2024, compelling X to disclose traffic data and advertising revenue for assessing compensation levels. Despite the collective participation of Le Monde and Le Figaro in the recent lawsuit filing, the LVMH entity did not partake, as outlined in court documents.
Les Echos stands as a prominent daily business newspaper in France, while Le Parisien caters to general news readers.
Les Echos-Le Parisien CEO Pierre Louette emphasized the importance of platforms complying with EU copyright rules, echoing sentiments shared by French publishers who have faced similar legal battles with tech giants like Google and Meta.
The pursuit of legal actions against social media platforms reflects the ongoing struggle to uphold journalistic integrity and quality content in the digital age.
LVMH's acquisitions in the media industry over the years have extended its presence, encompassing publications such as Paris Match and a French radio station.
Arnault's endorsements of Musk and his optimism following international events have become notable features of his public statements regarding business practices and governmental regulations.