May 26, 2023
Prisma Media becomes majority shareholder of French press group Milk
May 26, 2023
Prisma Media, the giant French media group owned by Vivendi, announced on Friday it has acquired a majority stake in the Milk group, publisher of the eponymous magazines, ahead of buying it in full within five years.
“The Prisma Media Group is pleased to have acquired a majority stake in Milk, a publisher of high-end magazines in the interior decoration and fashion sectors. The purchase of a 100% stake [in Milk] is planned within five years,” said Prisma Media, the number-one periodicals publisher in France, in a press release.
“This operation enables Prisma Media to grow its luxury division, following the successful launch of Harper's Bazaar France last February, to expand internationally and to boost its non-media activities in the interior decoration and lifestyle sectors,” added Prisma Media, a subsidiary of the Vivendi media group led by French billionaire Vincent Bolloré.
According to Isis-Colombe Combréas, co-founder and publishing director of Milk magazines, “the time has come to join forces with a major media group in order to push forward with our growth plans in the luxury segment.”
The operation, whose value has not been disclosed, will be finalised “once the corporate acquisition process will be completed.”
The Milk group was founded in 2003 by Combréas and Karel Balas, and publishes three magazines in French: the quarterly Milk Magazine, the bimonthly Milk Décoration and the biannual special Milk Kid's Collection.
The company is also active internationally with franchises in Japan, South Korea and China. Milk magazines have more than one million social media followers, the group stated in the press release.
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