FRANCE. As part of what it called a strategic refocusing around its travel retail and publishing interests, Lagardère is to sell the entire share capital of Lagardère Studios to Mediawan.
“Lagardère will now be dedicating all efforts and resources to developing Lagardère Publishing and Lagardère Travel Retail,” the group said in a statement this morning.
The link with Mediawan will strengthen the position of the combined entity as a leading European audiovisual production player and will enable Lagardère Studios to embark upon a new development phase, the group noted.
The planned disposal is subject to clearance from the competition authorities.
Lagardère Studios posted total revenue of €218 million in 2019. The transaction values the business at approximately €100 million.
