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: