PARIS (Reuters) – The head of French media group Lagardere on Thursday did not rule out selling magazine brand Elle as the company looks at disposals, but dismissed the possible sale of its weekly newspaper Paris Match and radio Europe 1.
Arnaud Lagardere, the principal managing partner of the company, said in November last year assets divestments could be envisaged to boost cashflow.
“I’m not very pleased with the cashflow generation. This is why we are going to modify the group’s profile with divestments but also acquisitions,” the executive told journalists following the publication of the group’s full-year results.
Asked about the future of its lifestyle and fashion Elle magazine, Lagardere said: “It is a question”, without elaborating.
Lagardere added some deals were on the verge of being announced but did not give details, citing the need to consult first with staff representatives.
(Reporting by Gwenaelle Barzic, writing by Matthias Blamont ; Editing by Sarah White)