Big French Merger: Gallimard to Buy Flammarion for €251m

In Global Trade Talk by Edward Nawotka

By Edward Nawotka and Olivia Snaije

Reuters is reporting the RCS MediaGroup will “accept a binding offer for its French book publishing unit Flammarion from the parent company of Gallimard, valuing it at €251 million.” It is lower than the €300 million RCS asked for in May. The announcement also indicated that “the deal is conditioned solely to the competent antitrust authority approval.”

The final paperwork is expected to be signed in September.

For further background on Flammarion, Gallimard and the ramifications of the deal, see our earlier articles:

With Gallimard Sole Suitor, Flammarion Questions Sale 

France’s Flammarion for Sale, Battle for Acquisition Begins

About the Author

Edward Nawotka

Edward Nawotka is the Editor-in-Chief of Publishing Perspectives. A former foreign correspondent, he has covered the book business since 2000, serving as daily news editor for Publishers Weekly and columnist for Bloomberg News.