London-headquartered publishing giant Emap has made an agreed £62 million ($1.036bn; €90.53m) offer for French consumer publishing group Excelsior Publications, within whose portfolio are such hot publishing properties as women’s glossy title Biba and raunchy ladmag Max.
Added to Emap’s forty-two existing French titles - among them TV listings, women's, automotive men's and special interest titles - the deal catapults the UK group to number two in the French magazine marketplace. The acquisition is subject to approval by French competition authorities.
The purchase also includes a seventy per cent stake in Excelsior Publicité Interdeco, a joint venture advertising sales operation. On completion of the purchase, Excelsior will be helmed by Emap France president/director-general Arnaud de Puyfontaine.
Data sourced from: BrandRepublic (UK); additional content by WARC staff