VOX POP: LVMH Moët Hennessy Louis Vuitton might very well be growing its media empire.
On Tuesday evening, in sync with the release of its annual earnings, the Lagardère group revealed that it has entered into exclusive negotiations with LVMH for Paris Match, following the luxury group’s offer for the French people magazine. Financial terms of a possible deal were not disclosed.
The publishing group’s board of directors earlier in the day had decided to move forward with the exclusive talks.
LVMH already owns French daily newspapers Le Parisien and Les Echos. It is also a shareholder in Lagardère.
Lagardère in November 2023 was acquired by Vivendi, which is controlled by the Bolloré family. Prior to that, last year, Vivendi sold another people magazine — Gala — to Groupe Figaro in order to meet European Commission requirements to purchase Lagardère.
