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Lagardere edits Editis

World Brief

EU antitrust regulators have finally given French publisher Lagardere formal permission to acquire rival Editis from Vivendi Universal.

Lagardere previously wanted to snag operations accounting for 60%-65% of Editis’ revenues and keep its distribution operations, but this met with firm opposition from Europe’s competition watchdogs, who said it would have produced a heavily dominant group with revenue seven times that of its nearest rival and a 50% share of the French publishing market.

To get the deal approved, Lagardere has now agreed to make do with assets that add up to about 40% of revenue and half of the company’s profits.

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