Groupe Renault acquires a 40% share in the Challenges media group
Groupe Renault and the Challenges Group have combined efforts to develop editorial services for connected, autonomous cars and to respond to new opportunities for innovative ways of distributing content.
Groupe Renault will acquire 40% of the capital of the Challenges Group, which comprises five magazines: Challenges, Sciences & Avenir, La Recherche, L’Histoire and Historia.
Upon conclusion of the operation, Claude Perdriel will be a majority shareholder (60% of shares) and will be CEO of the new group strengthening the ability of the Challenges Group to produce high-quality editorial content.
Today, French and European commuters spend about two hours in their car every day. Claude Perdriel and Renault CEO Carlos Ghosn share the same conviction, that with the development of the connected driverless vehicle, users will have more time to spend on other activities while in the car.
Together, the Challenges Group and Groupe Renault have everything that is needed to create a “lab for testing innovation” to develop new editorial content and relevant technologies.
When going from place to place – whether alone or with family or friends – we listen, look, and pay attention the world around us. This is already true of travel in today’s cars, and will be even more true in the autonomous, and driverless car of tomorrow.
Each person, in his or her own vehicle, will be able to select and access information and content from the media group which will be totally dedicated to the knowledge and information.
In France, 5,000 newspaper kiosks are going out of business every year. This project will enable millions of drivers and their passengers to have completely free access to a choice of high-quality information and content.
Groupe Renault will acquire its stake partly by means of an increase in capital that will enable the Challenges Group to finance new development, particularly in the digital domain and in the fast-growing field of events-driven operations.
“This project is totally in line with Groupe Renault’s strategy, which aims to offer new, high-quality connected services and to improve the customer experience,” said Carlos Ghosn, Renault Chairman and CEO.
“We are delighted to welcome Groupe Renault on board. This process corresponds to our strategy: to develop our activities not only in the press, but also in the digital and events sectors. With Groupe Renault, we will be able to innovate to a greater extent so as to offer top quality services and content to all our readers,” stated Claude Perdriel, CEO of the Challenges Group.
About Challenges Group
Challenges Group is one of the leading independent press groups in France. It consists of five quality magazines.
Challenges, the leading French economic weekly.
Sciences et Avenir, a premium scientific monthly for the general public.
La Recherche, a monthly magazine that connects the international scientific community.
Historia, a popular monthly magazine founded in 1909.
L’Histoire, the monthly magazine of the community of historians, students and history enthusiasts, a premium publication.
The magazines of the Challenges Group have in common the originality, richness and quality of their content.
The Challenges Group also organises successful events: the Paris Economic Summit, the Start-up Summit in Paris and the main regional capitals, the Popular History Festival in Strasbourg…