PARIS, Dec 23 (Reuters) - Vivendi said on Wednesday it had agreed to buy Prisma Media from Germany’s Bertelsmann , bolstering its presence in the French publishing sector.
The French media giant controlled by billionaire Vincent Bollore did not provide any financial details on the expected deal, which concludes exclusive negotiations which were announced with the German group a week ago.
Bollore is vying with rival billionaire and LVMH boss Bernard Arnault for more influence at French media group Lagardere, home to household names such as the Journal du Dimanche, Paris Match and the Europe 1 radio station.
Vivendi has described Prisma as France’s number one press publishing group, with leading titles such as Femme Actuelle, Capital, Gala and Tele-Loisirs.
Prisma generated 304 million euros in net revenue last year, according to its website, reflecting sales of 130 million magazines per year. (Reporting by Mathieu Rosemain; Editing by Alexander Smith)