French group reports half-year results: $5.56 billion
PARIS — French group Lagardere announced a 5.6% increase in sales to $5.56 billion in its half-year results. Of the sales, Lagardere Media accounted for $3.21 billion, a 3.7% increase over last year’s $3.09 billion.
Company said the rise of its media division stems from growth of the book and the distribution services and the development of Lagardere Active’s television business and continued market share gain in radio.
Lagardere Media is continuing its push into the French media biz, most recently with its acquisition of Virgin Stores in France and its alliance with technology consulting firm Accenture to form the Broadway Factory, which will develop and operate interactive content for digital TV.
In February, the group acquired 100% of Telmondis, the French producer of live entertainment programs, giving Europe Images Intl., Lagardere’s distribution unit, access to Telmondis’ catalog of 350 hours of live entertainment and performance-oriented programs.
Lagardere also has a deal in the works with Pathe with an eye toward taking an important stake in the French major’s TV production division.