PARIS--(BUSINESS WIRE)--Regulatory News:
The Lagardère group (Paris:MMB) announces the sale of its Radio assets in the Czech Republic, Poland, Slovakia and Romania to Czech Media Invest.
This transaction is the first in a series of disposals concerning Lagardère Active assets within the scope of the strategic redeployment announced by Arnaud Lagardère on 8 March 2018.
The selling price of these assets is €73 million for consolidated revenue of around €56 million in 2017.
This acquisition will support Czech Media Invest’s growth strategy in the media segment, adding a new media type based on strong radio brands in those countries.
The closing of the transaction is mainly subject to clearance from the local regulatory authorities in the countries concerned.
* Czech Media Invest, co-owned and managed by Daniel Křetínský is the #1
industrial operator of medias in the Czech Republic, with four daily
titles, numerous magazines and online domains.
The company also owns two printing plants, is a leader in book publishing and press distribution with over 18,000 delivery points.
The Lagardère group is a global leader in content publishing, production, broadcasting and distribution, whose powerful brands leverage its virtual and physical networks to attract and enjoy qualified audiences.
It is structured around four business lines: Books and e-Books; Travel Retail; Press, Audiovisual, Digital and Advertising Sales Brokerage; Sports and Entertainment.
Lagardère shares are listed on Euronext Paris.