The fire threatened to turn red, and Vivendi’s grand project to collapse. Fearing that the European Commission will withdraw its takeover bid for Lagardère, Vincent Bolloré’s group has announced to employees of Gala, Tuesday, April 11, that he was regarding to put the people magazine on sale. Information revealed by online media The Informed. Vivendi will signify its commitment to do so before the European Commission on Wednesday, April 12.
This announcement follows the conclusions of the in-depth investigation launched by Brussels into the current operation. Thus, in mid-January, the European Commission explained that it feared that “the operation, by combining three celebrity magazines [Paris Match de Lagardère, ainsi que Gala et Voici rachetés à Prisma en 2020]can give rise to a powerful market leader”. A situation that might have harmed “to the quality, diversity and prices, at the expense of the readers of this type of magazine”.
In its analysis, the Commission estimated that almost three quarters of the coverage of « Match » were reserved for photos of personalities, and covered identical covers to the two magazines.
“We absolutely do not share this analysis”refutes Claire Léost, the director of the publication Gala and president of Prisma Media, in a letter shared with employees on Tuesday morning. “Vivendi is forced to propose the sale of Gala. It’s a decision we respect, but deeply regret.”adds M.me Leost. promise to sell Paris Match once the transaction has been validated – rather than committing to sell Gala today – probably seemed too risky to the group’s management.
A “huge mess”
Surprise and concern dominated the editorial staff a few hours following the information fell. “With all the investment that we have put into the 30th anniversary issue of the newspaper and a few days before the coronation of Charles III for which we are all invited not to take leave, we did not expect this announcement. »reports a journalist. “It’s a huge mess”comments Emmanuel Vire, union representative (SNJ-CGT) and secretary of the CSE of Prisma, who recalls that, since the takeover by Vivendi, 200 of the 400 journalists in the group left with the transfer clause – a hundred arrived between -time.
The 130 employees of the magazine will now have to wait until June 14 at the latest for the Brussels commission to approve the takeover of Lagardère to enter a new phase in their history. “It is from this date that we will study the buyout offers made by potential buyers”continues Claire Léost in her letter. “Under no circumstances do we wish to be sold to Reworld Media, whose social and editorial model is a disaster”warns Mr. Vire.
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