Lagardère Active, the part of French media group Lagardère that houses the group’s TV channels, saw its revenues slide by 3.6% last year to €895 million, with a strong performance from TV being offset by a decline in press advertising and a lowering of the audience for radio service Europe 1.
Overall, advertising revenues including TV dropped by 1.8%, with losses elsewhere being compensated by a stronger performance in TV.
Lagardère Active’s operating profit was up €5 million at €75 million, with operating margin standing at 8.4%, pushed up by TV advertising sales and cost cutting in the press and radio activities.
Despite the relative strength of Lagardère’s TV arm, including flagship kids channel Gulli, the company last month entered into exclusive talks with commercial broadcaster M6 Group for the sale of its TV channels.
Lagardère, which has decided to focus on the development of its publishing and travel retail activities and to exit broadcasting, is in exclusive talks with RTL-owned M6 for the sale of all of its TV channels with the exception of classical music service Mezzo. The portfolio comprises kids channel Gulli, youth oriented Canal J, TiJi, Elle Girl TV, MCM, MCM Top and RFM TV.