×
60 464
Fashion Jobs
OLD NAVY
General Manager - Tomball Crossings
Permanent · Tomball
OLD NAVY
Assistant General Manager - Springfield Commons
Permanent · Springfield
OLD NAVY
Asset Protection Manager
Permanent · Epping
OLD NAVY
Assistant General Manager, Merchandising - Sycamore Commons
Permanent · Matthews
OLD NAVY
Assistant General Manager - Hillside Village
Permanent · Cedar Hill
OLD NAVY
General Manager - Fayette
Permanent · Lexington
NIKE
Finance Director, Global Operations & Logistics (Goal)
Permanent · Beaverton
NIKE
Manager, Global Finance And Strategic Investment
Permanent · Beaverton
NIKE
Omnichannel Services Marketing Manager
Permanent · Beaverton
NEIMAN MARCUS
Loss Prevention Associate - Denver
Permanent · Denver
NEIMAN MARCUS
Loss Prevention Associate- Austin
Permanent · Austin
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Wichita
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · New York
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Wellington
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Littleton
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Rapid City
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Denver
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Chattanooga
BLOOMINGDALE'S
Business Manager - Home/yw
Permanent · Costa Mesa
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Orlando - Flex
Permanent · Orlando
BLOOMINGDALE'S
Business Manager - Men's
Permanent · Costa Mesa
BLOOMINGDALE'S
Outlet Keyholder Selling, Liberty Place - Full Time
Permanent · Philadelphia
Translated by
Nicola Mira
Published
Apr 4, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

French media group Lagardère restructures, plans sale of Elle magazine

Translated by
Nicola Mira
Published
Apr 4, 2018

French media group Lagardère has begun to streamline its portfolio, intending to sell its TV channels, international radio stations and magazines. It plans to keep only its audio-visual production company, radio broadcaster Europe 1, the Journal de Dimanche (JDD) magazine and the Paris Match news magazine. The news was reported by French daily Le Figaro on Wednesday, causing Lagardère's share price to rally on the Paris stock exchange.


The Elle France issue of 30th March 2018 - Elle


Le Figaro indicated that Lagardère's objective is to finalise the sales by the end of 2018 at the latest, entering into negotiations with potential buyers soon, if possible before the summer. The French group is expected to be able to generate between €400 million and €700 million from the divestments.

Besides Elle, several other magazines are up for sale, like Femina and Public, as well as websites like Doctissimo and Boursier.com, and radio and TV broadcasters RFM, Virgin Radio, Gulli and MFM.

There are several possibilities for the Elle weekly magazine. The first was a merger with Mondadori France and Marie Claire to create a single women's magazine conglomerate, but this option has reportedly fizzled out, as the interests of the various parties aren't compatible. Lagardère  would prefer an outright sale for Elle, some of whose publishing rights it already sold to US giant Hearst, but the French group would also like to sell its stake in Marie Claire, a 42% minority share which is an inconvenience for Lagardère, now that it is restructuring its portfolio.

A series of simultaneous sales are therefore on the cards over a very short period of time, a few months only. "With this scenario, the information and consultation process with the [group's] employee representatives begun last week," according to Le Figaro.

"Lagardère Active wants to reorganise itself into five independent entities, 'each endowed with its own operational and functional resources', creating [five] transferable units," wrote Denis Olivennes, the President of Lagardère Active, in an internal memo.

The Lagardère group has not made any statement for the time being.

Anaïs Lerévérend with Reuters

Copyright © 2021 FashionNetwork.com All rights reserved.