Bertelsmann to sell French magazine business
The Gütersloh-based media group Bertelsmann wants to divest its magazine business in France. The publishing subsidiary Gruner + Jahr (G+J) announced on Monday exclusive negotiations with the French company Vivendi, which is also active in the media business, but so far has no magazine division.
The French G+J subsidiary Prisma Media publishes 20 magazine titles - from Femme Actuelle via GEO, Capital, Gala to the program guide Télé-Loisirs and thus sees itself as the country's leading magazine publisher. The publications are used every month - in print or online - by 42 million French people. Founded in 1978, Prisma is one of Gruner+Jahr's few remaining foreign holdings.
Vivendi said the acquisition would fit perfectly with its strategy and complement its existing business. Prisma Media opens up "interesting opportunities for cooperation within the Group," it said. Vivendi's assets include pay-TV broadcaster Canal Plus, music label Universal Music and advertising agency Havas. (SDA)
