Lagardère finalises the sale of its magazine publishing titles in France to Czech Media Invest
Archives Lagardère Active, Corporate & other activities, Finance
Paris, 14 February 2019
As part of its strategic refocusing around Lagardère Publishing and Lagardère Travel Retail, today the Lagardère group finalised the sale of most of its magazine publishing titles in France, including Elle and its various extensions, Version Femina, Art & Décoration, Télé 7 Jours and its various extensions, France Dimanche, Ici Paris and Public, to Czech Media Invest (CMI).
In connection with the sale, CMI has been granted an exclusive license for the Elle brand covering France. The Lagardère group remains the owner of the Elle brand in France and abroad.
The amount of the transaction was €52 million. In 2018, these activities generated revenue in the region of €239 million, recurring EBIT of around €22 million and pro forma EBIT (including restructuring costs) of about €10 million. Six hundred and forty-nine employees are being transferred to CMI as part of the deal.
Arnaud Lagardère, General and Managing Partner of Lagardère SCA, commented: “I am delighted to have concluded this significant transaction for the Group’s reconfiguration, with a very ambitious company which has great plans for this segment. Daniel Kretinsky is a shrewd businessman and has a strong affinity with France. I have no doubt he will continue to grow these magazines and give them the means to succeed.”
Coming on the back of the disposals of the interest in Marie Claire, most of the Group’s international radio activities, and the MonDocteur, Doctissimo and Boursier.com websites, as well as the start of exclusive negotiations for the sale of Billetreduc.com and the Television business (excluding Mezzo), this transaction marks a decisive step in the Lagardère group’s strategic redeployment around its two priority divisions, Lagardère Publishing and Lagardère Travel Retail.
The proceeds from these disposals will be reinvested first and foremost in these two divisions, in order to provide them with the means to become a fixture among the global leaders in their respective segments.
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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