Lagardère enters into exclusive negotiations with the M6 group for the sale of its Television business (excluding Mezzo)
Archives Lagardère Active, Corporate & other activities, Finance
Paris, 31 January 2019
As part of its strategic refocusing on Lagardère Publishing and Lagardère Travel Retail, the Lagardère group is entering into exclusive negotiations with the M6 group to finalise an agreement to sell the channels making up its Television business (excluding Mezzo) – Gulli and its international extensions, Canal J, TiJi, Elle Girl TV, MCM, MCM Top, RFM TV – and the related advertising sales brokerages.
In 2017, the pro forma consolidated revenue and pro forma recurring EBIT(1) of the Television business (excluding Mezzo) amounted to €98 million and €20.6 million, respectively.
The project will be submitted to the relevant employee representative bodies and will be subject to clearance by France’s media regulator (CSA) and the competition authorities.
This transaction is in line with the Lagardère group’s commitment to continue developing Lagardère Publishing and Lagardère Travel Retail, in order to provide them with all the necessary means to become a fixture among the global leaders in these two business sectors. It will give the M6 group the opportunity to round out its audiovisual offering for families and strengthen its overall position on the French media market, both in TV advertising and digital formats.
(1) Alternative performance indicator. See note 3.3 to the 2017 consolidated financial statements.
The Lagardère group is a global leader in content publishing, production, broadcasting and distribution, whose powerful brands leverage its virtual and physical networks to attract and enjoy qualified audiences.
It is structured around four business lines: Books and e-Books; Travel Retail; Press, Audiovisual, Digital and Advertising Sales Brokerage; Sports and Entertainment.
Lagardère shares are listed on Euronext Paris.
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