Vivendi’s Media & Entertainment Empire Set For Major Expansion As European Commission Approves Lagardère Acquisition

The European Commission has given the greenlight for French conglomThe acquisition will make the Paris-based group one of the biggest media and entertainment groups in Europe, on a par with Germany giant Bertelsmann., the radio station Europe 1 and newspaper kiosk chain Relay.

“With the addition of the Lagardère group, Vivendi will now have some 66,000 employees compared to 38,000 at the end of December 2022, with a stronger presence in key markets such as France, the United Kingdom, Spain and the US. Annual revenues are projected to reach approximately €17 billion based on 2022 results, compared to around €10 billion today,” it said.

Yannick Bolloré, Chairman of the Vivendi Supervisory Board, said: “The European Commission’s decision is excellent news for Vivendi which will now be able to successfully carry out its ambitious development plan with the Lagardère group.”

Source: News Formal (newsformal.com)

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