Groupe Lagardère is acquiring the majority of the health specialized website Doctissimo. Lagardère Active Digital will get 53% of the capital and 58% of the voting rights of Doctissimo for about E70m that valued the company at E138m. By paying a 7.4% premium over the share price, and a multiple of 12 times the 2007 sales, the transaction seems way more reasonable than a year ago when Springer coughed up 21 times the sales for the French portal AuFeminin.com. Lagardère and Doctissimo agreed for a valuation in the low end of the E130m-E165m range set by analysts.
> story in Bloomberg
> and in Le Figaro
- France — Lagardère and the faraway digital galaxy TweetFor Groupe Lagardère, the shift to digital will be a long, long journey. Currently the n°1 media conglomerate in France, it is getting only 3% of its revenue from the Internet. In 2012, Lagardère wants to reach 10% to 12%. We are not there yet. Last week, the journalists of two of Lagardère major publications, [...]...