NEGATIVE TREND: French media group Lagardère reported a 6.2 percent drop in first-quarter sales to 1.53 billion euros, or $2.1 billion. Net sales at the firm’s multimedia division, Lagardère Active, were 202 million euros, or $278.4 million, down 8.9 percent in the three months ended March 31 versus first-quarter 2013.
Dollar figures are converted from euros at average exchange rates for the period.
France’s largest magazine publisher posted a 6 percent decline in its domestic titles’ sales, citing “a difficult advertising market.”
The group, however, noted less magazine circulation erosion in France, which was down 1.6 percent due to a rise in price per issue.
As reported, on April 2 Lagardère entered into an agreement with a consortium of media and digital entrepreneurs to sell its 10 print titles, including women’s magazine Be, as part of a plan to focus on brands with a strong potential for digital development. Lagardère’s flagship titles are the French edition of Elle and Paris Match.