2023-06-12 18:32:02
The green light from the European Commission for the takeover of Lagardère by Vivendi, announced on June 9, concludes a chapter in the soap opera that has kept the publishing world in suspense since Vincent Bolloré – who controls Vivendi with his family – launched its takeover bid for its competitor in December 2021. With 57.35% of the capital, Vivendi had already become the majority shareholder of Lagardère. But he needed the agreement of Brussels to be able to exercise all the powers conferred on him by this status. This being given, another chapter opens: that of the changes of ownership for the very numerous houses of the two groups and, at the same time, of the recomposition of the publishing landscape.
Lagardère, owner of 50 publishing houses
Under the Lagardère “flag”, there is indeed Hachette Livre, the leading French publisher and the third in the world. It owns famous literary brands such as JC Lattès, Grasset, Fayard, Stock, Le Livre de poche, but also brands of school books such as Hatier, Éditions Didier… That is, in total, some 50 houses – for what concerns France – which will pass under the Vivendi “flag”.
With its subsidiary Editis, it occupies the position of number two in France (the third is Madrigall, which brings together Gallimard, Flammarion, the Editions of midnight…). Editis in fact oversees around fifty brands that are just as evocative as those of its competitor. Among these, Robert Laffont, Belfond, La Découverte, Julliard, or even Bordas and Nathan for school books.
Contrary to Vincent Bolloré’s hopes when he launched his takeover bid, these two book giants will not merge to give birth to a juggernaut. Guardian of competition, the European Commission opposed their marriage to limit the concentration, already at work, in publishing. It therefore summoned Vivendi to submit a solution to it so that the group could carry out its operation. Rather than give up on its project, which opens up multiple international prospects, the group has offered to separate from Editis in order to be able to absorb Lagardère. His appetites are thwarted, but holding number one is always better than number two. Brussels accepted the script.
For Editis, fifth change of ownership in twenty years
Editis is therefore preparing to change ownership for the fifth time in twenty years. Owned by the investment company Wendel then by the Spanish Planeta before its acquisition by Vivendi in 2018, the group waited several months before knowing, in April, the identity of its future owner. It will be International Media Invest (IMI), a subsidiary of Czech Media Invest (CMI), the company of Czech businessman Daniel Kretinsky. A novice in publishing, this Francophile, who made his fortune in the energy and media sectors in the Czech Republic, became known in France from 2018. First by acquiring Elle or TV 7 days – publications of the Lagardère group –, then by taking control of the weekly Marianneby entering the capital of Mondeand in that of Fnac. Its acquisition of Editis allows it to diversify its tools of influence.
The same goes for Vivendi with Lagardère. The first already owns several media: CNews and C8 via the Canal+ group, but also titles such as Current wife, Geo or Capital via its magazine press division, in which it occupies the leading position in France. To avoid impeding competition, the European Commission has asked it to withdraw from Galabecause, by absorbing Lagardère, Vivendi becomes the owner of Paris Match, flagship title in a nearby niche. He also lays his hands on The Sunday newspaper and several radios: Europe 1, Europe 2 and RFM. But these, fearing the influence of the Bolloré group, were subject to a change of status in March, which guarantees them autonomy.
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