Vivendi announces agreement for full sale of Gala magazine
27/07/2023 09:08
July 27 (Reuters) - Vivendi VIV.PA subsidiary Prisma
Media has entered into a put option agreement with Groupe Figaro
for the full sale of French gossip publication Gala magazine,
the French media and communications giant announced on Thursday.
Vivendi, which also owns global media group Canal+ and
communications agency Havas, did not disclose the value of the
deal but said it hopes to complete the sale by October.
Groupe Figaro, part of the Dassault empire which also
includes Dassault Aviation AM.PA and Dassault Systemes
DAST.PA , must be "approved as a suitable purchaser by the
European Commission", Vivendi said.
Vivendi shares were up about 3% in early trading.
The company is currently under investigation by EU antitrust
regulators with regard to a possible infringement of merger
rules related to the acquisition of another media conglomerate,
Lagardere LAGA.PA .
(Reporting by Victor Goury-Laffont; editing by Jason Neely)
((Victor.Goury-Laffont@thomsonreuters.com;))