Without clauses of national assimilation or reciprocity, foreigners may not acquire, directly or indirectly, more than 20 per cent of the equity capital or voting rights of enterprises that issue press publications in the French language.
"Article 1
Within the meaning of this law, the expression "press publication" designates any service using a written method of disseminating thought made available to the general public or to categories of public and appearing at regular intervals.
By online press service is meant any online public communication service published in a professional capacity by a natural or legal person who has editorial control of its content, consisting of the production and making available to the public of a content. original, of general interest, regularly renewed, composed of information presenting a link with current events and having been the subject of a journalistic treatment, which does not constitute a promotional tool or an accessory to an activity industrial or commercial.
A decree specifies the conditions under which an online press service can be recognized, in particular with a view to benefiting from the advantages attached to it. For online press services of a political and general information nature, this recognition implies the employment, on a regular basis, of at least one professional journalist within the meaning of Article L. 7111-3 of the Labor Code. .
Article 2
The provisions of this law apply to publishing companies.
Within the meaning of this law, the expression "publishing company" designates any natural or legal person or legal group publishing, as owner or tenant-manager, a press publication or an online press service.
[...]
Article 7
Subject to international commitments entered into by France and comprising either a clause of national assimilation or a reciprocity clause in the field of the press, foreigners may not, from the publication of this law, proceed to a acquisition having the effect of increasing, directly or indirectly, their share to more than twenty percent of the share capital or voting rights of a company publishing a French-language publication.
For the application of the preceding paragraph, any company whose majority of the share capital or voting rights is held by foreigners, as well as any association of which the majority of directors are foreign, is foreign.[...]" (Law n ° 86-897 of 1 August 1986 reforming the legal regime of the press, last amended by Law n°2019-486 of 22 May 2019, Articles 1, 2 and 7 [google translation])
Law n ° 86-897 of 1 August 1986 reforming the legal regime of the press, last amended by Law n°2019-486 of 22 May 2019, Articles 1, 2 and 7
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