Lagardere gets three bids for magazines-Le Figaro

(Reuters) – French media group Lagardere has received three preliminary offers for the magazines it has put up for sale and expects firm offers by Feb. 15, French daily Le Figaro reported on Thursday.

Lagardere said in October it planned to sell 10 magazine titles to focus on growing its most strategic brands online, such as the French edition of “Elle”. Titles for sale include popular Psychologies Magazine, Be and Premiere, and several home and decoration magazines.

Didier Quillot, former head of Lagardere Active, a division of the group which launched Be, made a bid, as did Marc Laufer whose media group NewsCo acquired 01 Net and 01 Business from NextRadio TV, the newspaper said.

The third offer came from Pascale Chevalier, head of Reworld Media, which owns magazine Marie France and whose bid is backed by investment funds Truffle and Idinvest, it said.

Le Figaro said the price tag was likely to be small as Lagardere would finance departures as part of a law in France that allows journalists to resign with compensation when the ownership of their publication changes.

 

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