CMI has completed the transaction for the purchase of Lagardère group’s magazine publishing titles in France
15. 2. 2019
The Lagardère group finalized 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 Křetínský is a smart 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.”
„We are proud and grateful for the opportunity to take over responsibility for this great media house in whose successful future we strongly believe. We are aware of the challenges traditional printed newspapers and magazines face today and we are looking forward to the cooperation with the current management team,“ commented Daniel Křetínský, CEO and co-owner of CMI.
Czech Media Invest (CMI) is a holding company that focuses on acquisitions and management of media assets in Central and Western Europe. Through its subsidiary company Czech News Center, which is the leading media house in the Czech Republic, it publishes four daily newspapers, several dozens of magazines and web titles. The company also owns two printing houses and is the leader in publishing and selling books and print distribution in the Czech Republic. In 2018, Czech Media Invest (CMI) became the owner of major radio stations in the Czech Republic, Poland and Romania. In the same year, the group expanded its operations to France where it owns, for example, a socio-political weekly magazine Marianne and holds a stake in the Le Nouveau Monde holding, one of Le Monde’s shareholders.