2023-11-08 20:00:38
Arnaud Lagardère, boss of the group of the same name regarding to be absorbed by Vivendi, has been appointed president and chief executive officer (CEO) of Hachette Livre, its subsidiary specializing in publishing, according to a press release published Wednesday, November 8.
“At the time of the merger of the Lagardère group with Vivendi, I wanted to show my historical and visceral attachment to this book profession”underlined Mr. Lagardère, specifying that he retained his mandate as CEO within the Lagardère company.
Hachette Livre, with houses like Grasset, Fayard, Le Livre de Pocket and Hatier, is a publishing heavyweight. It is number one in the sector in France and number three worldwide, with two thirds of its activity carried out outside France. It is still owned by the Lagardère group, which Vivendi should soon buy following a successful public purchase operation.
To buy Lagardère, Vivendi had to sell Editis
This large-scale operation gives rise to a redistribution of the cards in the French publishing sector. The European Commission was opposed to the parent company of Canal+ and Havas owning both Hachette Livre and Editis. Vivendi therefore chose to sell the entirety of Editis to Czech businessman Daniel Kretinsky, allowing him to enter this market. At the end of October, Brussels gave its authorization to this transaction.
At the head of Hachette Livre, Arnaud Lagardère succeeds Pierre Leroy. The latter was appointed in March 2021 to replace Arnaud Nourry, dismissed from his position following eighteen years in the company for opposing the merger with Vivendi. Mr. Leroy nevertheless remains within the Lagardère group, as Deputy Managing Director.
Read also: Article reserved for our subscribers Acquisition of Editis: Brussels favors the great movement of tectonic plates in the French edition
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