French Money in the VREME Magazine

The following news came from Paris last week: "SocPresse from Paris has established a cooperation with the VREME publisher, which was started on November 8 this year. The signing of the joint venture contract is expected this month. This will be the first foreign investment in a private Yugoslav news publishing company.

The foreign newspapers are guaranteed the editorial independence by the joint venture contract and "SocPresse" in no way wants to get involved in local politics. Their only concern is the choice of the magazines the Hersant group is investing in and that it is always a magazine which represents top professionalism. Such is the case with VREME in Yugoslavia." "SocPresse" is a holding which is grouping all the firms of the newspaper tycoon Robert Hersant. It is the biggest French press group which, along with the daily papers "Le Figaro" and "France-Soir", owns the leading regional magazines as well as a series of specialized reviews. The experience of "SocPresse" is in many ways unique in Europe. The group owns the biggest French advertising press agency - "Publiprint". Two years ago, the Hersant group started investing in magazines in Central and Eastern Europe and has now become the majority holdings partner in the leading magazines in Hungary ("Magyar Nemzet") and Poland ("Rzespospolita") and the six regional magazines.