The c ≤ 1 and c > 1 matrix models are analyzed within large N renormalization group, taking into account touching (or branching) interactions.The c < 1 modified matrix model with string exponentγ > 0 is naturally associated with an unstable fixed point, separating the Liouville phase (γ < 0) from the branched polymer phase (γ = 1/2). It is argued that at c = 1 this multicritical fixed point and the Liouville fixed point coalesce, and that both fixed points disappear for c > 1. In this picture, the critical behavior of c > 1 matrix models is generically that of branched polymers, but only within a scaling region which is exponentially small when c → 1. Large crossover effects occur for c − 1 small enough, with a c ∼ 1 pseudo scaling which explains numerical results. * CNRS 1