The merger process between SNIPE-La Presse and Dar Assabah has officially started, as announced by Saïd Ben Kraïem, CEO of SNIPE-La Presse. This move follows a decision made by President Kaïs Saïed. An assembly comprising the boards of directors of both companies decided to assign the management of Dar Assabah to SNIPE-La Presse. This decision was made after the conclusion of a contract for the transfer of Dar Assabah's shares to SNIPE-La Presse, making it the sole and exclusive shareholder.
The merger aims to preserve the continuity of both companies and ensure their publications. According to Ben Kraïem, the two companies will operate under a single management. He emphasized that the goal is to maintain their viability and ensure the continuity of their publications. SNIPE-La Presse and Dar Assabah are described as two prominent schools of written press in Tunisia. Their merger is expected to help control production and distribution costs while accelerating their digital transition.
La Presse, a French-language daily newspaper, was founded in 1936 and has been a reference point in Tunisia, covering the country's history before and after independence. Dar Assabah was founded in 1951 by Habib Cheikh Rouhou and published its first issue on February 1 of the same year. Both institutions have faced financial difficulties in recent years due to the global crisis in print media.
Despite these challenges, Ben Kraïem assured that the state continues to support both companies, particularly by covering 100% of their salaries. For the 2027 budget, salaries will be covered by a permanent subsidy granted by the Ministry of Finance, under the supervision of the head of government and with the approval of the President of the Republic.
The merger is part of a restructuring process initiated by the Tunisian authorities to ensure the financial and administrative viability of both public companies. The government has decided to transfer all shares of Dar Assabah to SNIPE-La Presse for a symbolic dinar and to engage in a merger by absorption. The restructuring program includes improving governance, modernizing production means, and digitizing archives.
The merger between SNIPE-La Presse and Dar Assabah marks a significant change in the governance of Dar Assabah, which has been under the tutelage of the public company Al Karama Holding for several years. This change aims to ensure the continuity of publications and preserve jobs. The two companies' rapprochement is expected to open new perspectives for written and digital press.
Key aspects of the merger include the preservation of both companies' continuity, improvement in governance, and acceleration of their digital transition. The state will continue to support both companies, particularly through salary subsidies. The merger is expected to help control costs and ensure the viability of SNIPE-La Presse and Dar Assabah.
Key points
- The merger aims to preserve the continuity of both companies and ensure their publications.
- The state will continue to support both companies, particularly through salary subsidies.
- The merger is expected to help control production and distribution costs while accelerating the digital transition of both companies.
