Negotiations are underway for the acquisition with owners Groupe Amaury. French newspaper Le Figaro reported that LVMH had offered €50m in a deal for Le Parisien, its national edition Aujourd’hui and advertising and distribution firm AM Diffusion. In a statement on the proposed purchase of the Paris-based tabloid, Francis Morel, chief executive of LVMH’s media arm Groupe Les Echos, said: 'This well-known and respected publication would make a material contribution to our group.' LVMH owner Bernard Arnault told Reuters that the acquisition was subject to consideration by the Amaury works council and was conditional upon approval by the competition authorities.