French threat to Aegis
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.AEGIS Group, where Peter Scott stands down as chief executive today, has warned that proposed legislation in France could have a severe effect on the already troubled company, writes Jason Nisse.
The French government is considering changes in the law that would bring French media-buying practices more in line with those in the UK. Mr Scott told Aegis shareholders: 'If enacted, the draft law may have a material negative effect on the group's operations in France.'
Aegis's shareholders yesterday voted to approve a refinancing package involving a pounds 19.8m rights issue and debt restructuring. The media group has debts of pounds 60m.
The shareholders were also told that a New York court had rejected attempts by the company to have dismissed a dollars 300m ( pounds 158m) legal action, brought against it by a US sports sponsorship group. The ruling was three days before Aegis's rights-issue document was published on 7 August, but too late to be included.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments