Squadra advises Heroes Media on the takeover of VSD Magazine
VSD (Vendredi, Samedi, Dimanche) Magazine was founded in 1977 by Mr Siegel, former General Manager of Europe 1, and sold 400,000 copies per month.
In 1996, the magazine was taken over by Prisma, which in turn sold it to Georges Ghosn in 2018. Complications in this transfer led to the company being placed in receivership, which resulted in the adoption of a recovery plan in April 2021. With rising paper and energy prices, VSD was unable to meet the plan’s deadlines. In a ruling dated 1 February 2023, the Commercial Court of Paris resolved the recovery plan and declared VSD in receivership, with its operation to continue until 31 March 2023.
VSD’s receiver then issued an invitation to tender, which was met with seven takeover bids.
On 7 April 2023, the Commercial Court of Paris approved the plan to sell VSD to Heroes Media, as per which the majority of jobs and the magazine’s DNA are to be preserved.
Squadra Avocates (Charles Morel, Partner, and Ombeline Chaboureau, Associate) acted as counsel for Heroes Media.