Sale by the Lagardère Group of its regional daily press branch
Corporate & other activities, Finance
Paris, July 19, 2007
The Lagardère Group entered into exclusive negotiations with the Hersant Média Group
Having reviewed the terms and conditions of offers received, the Lagardère Group (via its subsidiary Quillet S.A.) today entered into exclusive negotiations with the Hersant Média Group, which has made a firm offer not subject to any further due diligence. This offer relates to the sale by the Lagardère Group of its regional daily press branch in southern France.
The main regional daily newspaper titles involved are La Provence, Nice Matin, Var Matin, Corse Matin and Marseille Plus.
An information-consultation procedure involving the Works Councils of the various entities concerned will be initiated as soon as possible in accordance with legal requirements.
This sale, which is subject to approval by the French anti-trust authorities, would help in the process of building major regional press players capable of meeting the new challenges facing the industry.
Under their new ownership, these regional dailies would have better prospects for development while preserving their editorial independence.
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