Vivendi Announces Agreement to Sell Gala Magazine to Groupe Figaro
Vivendi has made an official announcement regarding the sale of Gala magazine to Groupe Figaro, in line with their proposed combination with Lagardère and the remedies submitted to the European Commission.
Troy D. Hanson
July 31, 2023
In line with the proposed combination between Vivendi (Paris:VIV) and Lagardère, and the remedies submitted to the European Commission, Vivendi made an official announcement today regarding the sale of Gala magazine. Prisma Media, a subsidiary of Vivendi, has entered into a put option agreement with Groupe Figaro, agreeing to sell the magazine in its entirety.
However, this agreement is still subject to the necessary information and consultation procedures involving the relevant employee representative bodies. Additionally, Groupe Figaro must be approved as a suitable purchaser by the European Commission.
Vivendi is confident that all procedures will be completed, and the transaction will be finalized by October 2023.
Since 2014, Vivendi has been dedicated to creating a world-class content, media, and communications group. The organization possesses a diverse portfolio of leading assets in television and movies (Canal+ Group), communications (Havas), magazines (Prisma Media), video games (Gameloft), and live entertainment and ticketing (Vivendi Village). In addition, they have developed a global digital content distribution platform called Dailymotion. Upon completion of the merger with Lagardère, subject to fulfilling Vivendi's commitments to the European Commission, the combined entity will become the world's third-largest consumer and educational publishing group.
Vivendi's various businesses work cohesively as an integrated industrial group to generate maximum value. Moreover, the company is deeply committed to the environment and actively seeks to mitigate climate change, aligning its approach with the principles outlined in the 2015 Paris Agreements. Furthermore, Vivendi contributes to building more open, inclusive, and responsible societies by supporting diverse and inventive creative works, facilitating broader access to culture and education, and raising awareness about the challenges and opportunities of the 21st century.
For more information, please visit the official website: www.vivendi.com
This press release contains forward-looking statements regarding Vivendi's financial condition, results of operations, business strategy, plans, and outlook. These statements include the impact of certain transactions, the payment of dividends and distributions, as well as share repurchases. While Vivendi believes that these forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. Actual results may differ materially due to various risks and uncertainties, many of which are outside of Vivendi's control. These risks include antitrust and other regulatory approvals, as well as approvals required for certain transactions. More information about these risks can be found in the documents filed by Vivendi with the Autorité des Marchés Financiers (the French securities regulator), which are also available in English on Vivendi's website.
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