French magazine and book publisher and broadcaster Lagardère, which underperforms in digital media, has succeeded in acquiring a majority of shopping site LeGuide.com to bolster its efforts.
The group is shelling out an improved €28 per share (€98.2 million, $124 million) for the site, which also does price comparison for 161 million offers and 76,200 merchants across 14 European countries.
Lagardère is a giant, operating book publishers (incorporating Hachette Livre); magazines like Paris Match, Elle and Psychologies; broadcasters like Virgin Radio; plus a retail news distribution business and a sports talent management wing.
Online, it publishes several dedicated sites like(sports), (finance) and (movies).
But the group’s overall heft doesn’t necessarily translate in to digital scale. paidContent estimates only around €300 million of its €7.6 billion revenue comes from digital content.