The acquisition of Lagardère furthers the Bolloré family’s dominance in the French media and publishing sector. The European Commission will conduct an in-depth antitrust investigation into the proposed acquisition of the French media group Lagardère by another national colossus, Vivendi. Vivendi is currently in the process of reviewing ‘numerous propositions’, the company said in a statement.ĮU inquiry into controversial French media merger moves ahead IMI already has a presence in France, owning the distribution companies Fnac, Darty, and Casino, with its owner, Czech billionaire Daniel Křetínský, a shareholder in French media such as Le Monde, Elle, France Dimanche, Ici Paris, Marianne, and Libération.Īs a second condition for the takeover, Vivendi must sell its weekly celebrity magazine Gala, for which they have yet to confirm a buyer. Vivendi, owned by French billionaire and media tycoon Vincent Bolloré, signed a purchase promise on 23 April to sell Editis to International Media Invest (IMI), the Czech Republic’s leading media investment operator. Together, Editis and Hachette Livre represent French market shares of 71% in educational editing, 63% in dictionaries and 54% in pocket literature. The goal of this caveat is to prevent the fusion of Editis with Lagardère’s Hachette Livre, the largest publishing group. On Friday, the EU competition department cleared the takeover, with the condition that Vivendi sells its subsidiary company Editis, the second-largest French publishing group. The pending merger of the two leading French multimedia players has prompted competition concerns. The European Commission on Friday (9 June) approved French multimedia conglomerate Vivendi’s acquisition of publisher Lagardère, with some conditions to prevent market concentration.
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