The French LVMH, a major group in the luxury sector, headed by billionaire Bernard Arnault, has entered into exclusive negotiations with the Lagardère group, under the leadership of billionaire Vincent Bolloré, to buy the magazine Paris Match, Lagardère announced on Tuesday February 27.
The media group, recently swallowed up by Vivendi, “received a purchase offer concerning the Paris Match title from the LVMH group” and “its board of directors decided to begin exclusive discussions with the latter”, explains- he said in a press release on the occasion of the publication of its annual results.
Already owner of the daily newspapers Le Parisien and Les Echos and shareholder of Lagardère, Bernard Arnault has long coveted his weekly, for which he had already made an offer in 2021.
The possible sale of Paris Match is announced while Lagardère’s media division (Europe 1, Europe 2, RFM, JDD, Paris Match) shows a decline in its turnover of 9%, the group said during a conference call Tuesday. In November, Vivendi sold another celebrity magazine, Gala, to the Figaro Group, in order to meet the demands of the European Union to buy Lagardère.
In December, Vivendi announced that it was studying a project to split its activities into several listed entities, structured in particular around Canal, Havas and an investment company including its majority stake in the Lagardère group.
