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Buyers circle for Flammarion

14.02.12 | Barbara Casassus

RCS MediaGroup’s board did not decide at yesterday’s meeting to sell Flammarion as had been suggested, but a majority of its members are in favour of shedding the French subsidiary, the French economic daily Les Echos reports today (14th February).

The board has given itself a month to reach a decision on whether to accept one of the offers for the publisher. Last month, it was reported that the Italian group had received two offers, including one from Gallimard. Now Italy’s Mondadori, and French groups Editis and La Martinière have been added to the list of possible buyers, the newspaper said.

Gallimard and Flammarion, which is understood to be valued at €200m, together would form the third largest publisher in France, after Hachette Livre and Editis. Flammarion’s chairman and c.e.o. Terese Cremisi took up that post in 2005 after 16 years as Gallimard’s editorial director.
 

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