Observateur changes hands again

Just 7 months after being bought by Maurice Cohen, the Observateur de Monaco has a new owner.

The Observateur was launched as a weekly in November 2005, but by 2007 the journal was only being published once a month. It's changed hands 4 times in the past 5 years, founded by Enrico Braggiotti, sold to Patrice Pastor, then to Maurice Cohen at the end of 2009. Cohen had expressed his desire to develop the journal, but has now handed it over to Antonio Caroli.

Caroli expands his business empire with the acquisition. He also owns the weekly Monaco Hebdo, which has a print run of 3000 every week, and has been established in the Principality for 15 years. With the combination of the Observateur and the Hebdo, Caroli now holds a dominant position in Monaco's press industry.

The first edition of the Observateur under its new owner should hit the stands in September.

A new shareholder for the Observateur de Monaco