Lagardere to acquire Time Warner Book Group

7th February 2006, Comments 0 comments

PARIS , Feb 6, 2006 (AFP) - French media and technology group Lagardère has reached an agreement to acquire US publisher Time Warner Book Group for US $537.5 million (EUR 449 million), the companies said in a joint statement Monday.

PARIS , Feb 6, 2006 (AFP) - French media and technology group Lagardère has reached an agreement to acquire US publisher Time Warner Book Group for US $537.5 million (EUR 449 million), the companies said in a joint statement Monday.

It added that the deal would make Lagardère the world's third largest publisher.

"This important step completes a development aimed at a balanced position in the three key linguistic areas — French, English and Spanish," Lagardere said.

It said it would enable its book publishing branch to become "the leader" in the British, Australian and New Zealand market.

Time Warner Book Group is currently the fifth largest publisher in the United States.

Copyright AFP

Subject: French news

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