French media outfit Lagardère’s TV channels saw a 6% dip in revenues in the first quarter, driven lower by a decline in advertising sales.
The decline contributed to an overall in Lagardère Active’s revenues, which were down 13.4% in like-for-like terms to €116million.
The group said that TV advertising revenues was generally weak in the first quarter.
Production arm Lagardère Studios also saw its revenues fall, in this case by 20.2%, with a good international performance failing to compensate for a decline in fiction sales in France, which had benefited from a particularly strong performance in Q1 2018.
Lagardère announced in February that it was in exclusive negotiations with commercial broadcaster M6 Group for the sale of its TV channels with the exception of music channel Mezzo. Lagardère also owns kids channel Gulli, youth oriented Canal J, TiJi, Elle Girl TV, MCM, MCM Top and RFM TV.
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