Lagardere says in talks to sell Paris Match magazine to LVMH (updated)
27/02/2024 18:12
(Adds CEO quote from investor call in paragraph 3)
Feb 27 (Reuters) - French publishing company Lagardere
LAGA.PA said on Tuesday it had received an offer from luxury
goods group LVMH LVMH.PA to buy Paris Match magazine.
Lagardere did not provide details on the amount of the offer
for the magazine title, but said it was "quite significant".
"It's our duty and especially my duty reporting to the board
to work on that offer," CEO Arnaud Lagardère told investors.
Lagardere said its board of directors has entered into
exclusive discussions with LVMH and will consult with unions
representing Paris Match employees, and maybe Lagardere News.
Media conglomerate Vivendi VIV.PA acquired Lagardere last
year and currently owns 59.71% of the group.
(Reporting by Stephanie Hamel; Editing by David Goodman and
Alexander Smith)
((stephanie.hamel@thomsonreuters.com))