Vivendi announces that it has signed a promise to purchase to acquire Prisma Media

Vivendi announces that it has signed a promise to purchase to acquire Prisma Media

Violet Field inEntertainmentDec 24, 2020 2 min read0 views

Prisma counts twenty or so publications among its titles, including "Géo", "Télé-Loisirs", "Gala", "Ici" or "Femme Actuel".

Vivendi announced on Wednesday that it had signed a promise to purchase to acquire Prisma Media. - Alexander Pohl / Sipa USA / SIPA

The French media giant Vivendi announced on Wednesday that it had signed a "promise to purchase" to acquire the entire Prisma Mediapress group, he said in a statement.

This signing follows the period of exclusive negotiations with Gruner + Jahr-Bertelsmann, a subsidiary of the German Bertelsmann, announced in mid-December.

Offer "interesting opportunities"

"The acquisition project remains subject, in accordance with the regulations in force, to the information and consultation of the bodies representing the staff of Prisma Media as well as to the finalization of the legal documentation", Vivendi indicated. He added that such an acquisition “would offer interesting opportunities for collaboration within the group and for the development of Prisma securities”.The media and publishing are the development axes of the diversified group, which in 2019 bought Editis, which notably owns the Nathan, Robert Laffont, and Plon houses.

Prisma claims to be the leader of the magazine press in France, with some twenty publications including Géo, Télé-Loisirs, Gala, Here, or Femme Actuelle. It is also the last of the main historical groups in this sector since the dismantling of the shares of Lagardère and Mondadori France.

Vivendi, owner of the Canal + group in particular, also recently acquired a stake in Lagardère, at the heart of a battle between shareholders and its manager Arnaud Lagardère. First shareholders of Lagardère, Vivendi, and Amber Capital want to overthrow the group's supervisory board and be represented on it by appointing four new members. However, Arnaud Lagardère refuses to organize the extraordinary general meeting they are asking for. A decision from the Paris Court of Appeal is expected on December 17. At the beginning of November, employees of the various branches of Lagardère expressed their concern at the risk of their group being dismantled among its shareholders.

[PRESS RELEASE] Vivendi signs a promise to purchase for Prisma Media https://t.co/OdJ9f9OhID

- Vivendi (@vivendi) December 23, 2020