After a nine-month investigation, the European Commission has approved the purchase of Lagardère, owner of Hachette, France’s largest publisher, by Vivendi, with several conditions. Vivendi must sell its Editis publishing house, the second largest publisher in France, as well as Gala, the celebrity magazine, according to the Bookseller and Buchreport.
EU competition commissioner Margrethe Vestager commented: “We must be sure that the publishing and media markets remain competitive to encourage a diversity of ideas and opinions. The proposed requirements will maintain existing competition in these markets to the benefit of consumers.”
Vivendi chair Yannick Bolloré said that the purchase will fulfill the company’s “strategic efforts to internationalize our operations and our wish to be a leading global actor in the area of culture and entertainment.”
