PARIS (Reuters) -Billionaire Vincent Bollore, the biggest shareholder in Vivendi, is poised to increase his routines in French media with the acquisition of Prisma Media.
Vivendi, which has France’s largest shell out-Tv team Canal, advertising team Havas and publishing organization Editis, stated on Wednesday it had agreed to purchase Prisma from Germany’s Bertelsmann for an unspecified sum.
Prisma is France’s quantity 1 print journals team, with titles these kinds of as Femme Actuelle, Capital, Gala and Tele-Loisirs.
Prisma Media generated 304 million euros in once-a-year internet revenues in 2019, its internet site reported, reflecting income of 130 million publications for each 12 months.
Prisma will signify a tiny part of Vivendi’s in general business, which produced about 16 billion euros ($19.49 billion) in gross sales last 12 months.
The agreement signed among Vivendi and Bertelsmann concludes distinctive negotiations between the two teams introduced previous 7 days.
Bollore is vying with rival billionaire and LVMH manager Bernard Arnault for far more affect at French media group Lagardere, residence to domestic names these types of as the Journal du Dimanche, Paris Match and the Europe 1 radio station.
($1 = .8207 euros)
Reporting by Mathieu RosemainEditing by Alexander Smith and Jane Merriman