Lagardère Active and Bolloré Média in exclusive negotiations for the acquisition of Virgin 17
Archives Lagardère Active
Paris, March 18, 2010
Bolloré Média and Lagardère Active have entered into exclusive negotiations for the acquisition of the free digital terrestrial television channel Virgin 17.
The draft agreement will become official after consultation with the bodies representing the staff concerned and examination by the competent authorities.
Bolloré Média plans to take on the staff employed by Virgin 17 and is said to be considering the creation of a new identity rather than using the Virgin 17 brand.
According to Didier Quillot, Chairman of the Management Board of Lagardère Active, “We aim to concentrate our investments on our brand-management strategy and strongest brands, like Gulli. We therefore accepted Bolloré Media’s offer for Virgin 17, which was particularly attractive in financial and social terms. We will naturally continue in our mission as a broadcaster of pay and free networks with Gulli and as an audiovisual producer with Lagardère Entertainment.”
Lagardère Active will focus on its operations as a broadcaster of pay networks (Canal J, TiJi, MCM, June and Mezzo) and on Gulli, the third-leading DTT channel in France for ages 4 and up with the best growth among such channels, according to a February Médiamat report.
Lagardère Active will continue Gulli’s growth and diversification strategy of brand management involving the web, mobile applications and Gulli magazine, as well as its international development (which includes Gulli’s Russian launch in late 2009).
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