Editis

Apr 26, 2023

Home » Business » Vivendi: the sale of Editis to Daniel Kretinsky takes shape byarchywordys No Comments The French giant Vivendi has obtained a promise to purchase from Daniel Kretinsky for its subsidiary Editis and recorded in the 1st quarter a turnover up 3.3%, to 2.29 billion euros (almost as much in francs) , thanks to the performance of Canal+ and Havas. Vincent Bolloré, controlling shareholder of Vivendi, had resolved in March to sell 100% of the publishing group to billionaire Daniel Kretinsky in order to be able to seize his French rival Hachette, a subsidiary of Lagardère, much stronger internationally. than Editis. Vivendi concluded Sunday (well Sunday) a promise to purchase with the group of the Czech businessman, also owner of several French media and shareholder of Fnac, but the operation remains subject to obtaining authorizations regulations. Brussels’ decision on the merger between Vivendi and Lagardère is expected by June 14. In the first quarter, the turnover of Editis, which had largely benefited from the momentum for literature at the time of the health crisis, fell by 6.3%, to 150 million euros, ‘due to ‘a less sustained program of publications’, according to Vivendi. The other activities are all up over the period, starting with Canal+ Group which generated 1.5 billion euros in revenue (+2.2%), thanks to an increase in subscriptions in France and the ‘international. Its production subsidiary StudioCanal saw its receipts increase by more than 13%. The communication group Havas continued its post-health crisis rebound with revenue up 3.5%, to 611 million euros. Lastly, Gameloft’s (video games) revenue increased by 14.8%, to 71 million euros, driven by its new strategy towards PC games and consoles, while Prisma Media magazine sales remained stable at 73 million euros, according to the press release. /ATS