FRANCE: VIVENDI ACCELERATES THE “TAKEOVER” OF LAGARDÈRE

Vincent Bolloré, patron of the Vivendi group, should retire in February 2022: it is assumed that accelerating the Opa on Lagardère tries to fix the company before leaving the helm to his children
Vincent Bolloré, patron of the Vivendi group, should retire in February 2022: it is assumed that accelerating the Opa on Lagardère tries to fix the company before leaving the helm to his children
Source

The conquest of the French media group by the Breton financier Vincent Bolloré is approaching its final stages. The Opa (the takeover bid aimed at shareholders to invite them to sell their shares to the company that would like to take control), initially scheduled for December 15, 2022, has been brought forward to February 2022. Vivendi will take control of Radio Europe 1, the RMF and Virgin Radio networks and the publishing houses Hachette and Editis. The Antitrust Authority and the CSA (Conseil Supérieur de l’Audiovisuel) have yet to pronounce on the acquisition. They could impose the sale of certain assets in the book sector, particularly in France, because with the acquisition of the two big names in publishing and book distribution in France, Vivendi would have a dominant position. This and other aspects are discussed in the Italian monthly Prima Comunicazione, specialized in the world of publishing.

FRANCE: LAGARDÈRE CLOSES THREE LOCAL SITES OF VIRGIN RADIO AND RFM

LAGARDÈRE CLOSES THREE LOCAL SITES OF VIRGIN RADIO AND RFM
Among the Virgin Radio sites affected by the closure is Angers, the capital of Maine and Loire
Source

The Lagardère group has unveiled a plan to redeploy 30 journalists and 4 presenters involved in closing 26 Virgin Radio and four RFM locations. Ownership attributes the need for the cuts to the music broadcasters’ declining audience due to competition from streaming platforms. But the CFDT union disputes this, attributing the crisis to the group’s management problems, as the other major generalist radio stations have not lost listeners. On the contrary, the stations that will be closed have sent €3.6 million in dividends to the Lagardère group in 2020.

We have already discussed the crisis at the Lagardère Group here and here.

Desertification risk

Closing the network’s regional offices also reduces news coverage in certain territories, particularly rural areas, which are already under stress due to the crisis: since 2009, the number of journalists has fallen by 10%
Source

In the communiqué issued by the union, the workers are acknowledged for their dedication to working as presenters in the morning, especially in “isolated editorial offices“, with net salaries of less than 1,900 euros per month. And fearing the danger of information desertification in certain areas, particularly rural ones, the CSA (Conseil supérieur de l’audiovisuel) is asked to monitor the merger in progress within the group and compliance with agreements. Indeed, operators are obliged to open local offices in order to broadcast local advertising. ”Certainly, shareholders dream of radio stations without journalists or presenters, but the media will die that way.”

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