Lagardere to enter in exclusive sale talks with NRJ regarding Virgin – report (translated)
23 JUN 2019
French media group Lagardere [EPA: MMB] could soon enter into exclusive negotiations with competitor NRJ Group [EPA: NRG] regarding the sale of its Virgin Radio France radio station and announcement could be made in the next few days, French daily Les Echosreported, citing rumors.
The report, however, also cited a person close to the situation as saying that an announcement, if the deal was signed at all, was weeks away.
Lagardere is understood to be considering selling its radio stations, Virgin Radio France and RFM.
While an article from the newsletter Strategies values the two assets at about EUR 175m (USD 197.8m), analysts from MainFirst, Natixis, SG or CM6CIC claim the two businesses are worth EUR 100m at most, with revenues of EUR 50-65m and an EBIT ranging between EUR 5m and EUR 10m annually.