The group that owns the magazine Stubborn (Opera Magazinebut also since 2022 Idea, The good life And Dim Dam Dom) went through 2023 in pain financially. Albin Serviant has been looking for a press group to support I/O Media, without success so far. The entrepreneur finally chose to request, in mid-October 2023, that his company be placed in receivership so that an administrator could help him. “to reprocess the debt”.
Several proposals for resumption have been made since the end of October, but none are “up to par”, estimates the businessman from French Tech. Mr. Serviant therefore intends to propose in the coming days a plan for the continuation of the activity, according to an article in the Echoes published Thursday 1uh FEBRUARY at the start of the evening and information confirmed at World.
“The positive results, two million turnovers between October and December, make me think that we can get there”he believes. “After the bankruptcy filing, the teams held on, the partners didn’t give up on us and we lowered the broadcast voluntarily to avoid losing money”he lists.
Sharp increase in manufacturing costs
Instead of the 7 million euros that he had planned to raise at the time of the buyout ofIdea who joined I/O Media in 2022, Mr. Serviant had only managed to raise 3.5 million euros, even though manufacturing costs were increasing sharply. “This forced us to restructure and go into receivership”, he recognizes today. By March 2023, several people had been laid off. The entrepreneur remains convinced that an economic model exists “by diversifying activities”believing that the “Digital development will not be enough to compensate for the decline in the press.”
The judge at the Paris commercial court will also have to examine three other offers received in recent weeks. The communications agency Raykeea (which publishes guitar part, Residence Decoration) wishes to take over all of I/O Media’s activities, but proposes to save only 15 to 20 positions out of the fifty employees. Also, the Heroes Media group (which recently bought celebrity magazines VSD And Public) made an offer for only part of the group: he imagines taking over the magazine The good life.
For its part, Prisma Media (whose owner is Vivendi, Vincent Bolloré’s group), had inquired about taking over the design magazine Idea and that of “lifestyle” The good lifeand made an offer to this effect on January 31.
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