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Axel Springer eyes sale of some French assets

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(Globalpost/GlobalPost)

German media giant Axel Springer is currently in talks to sell part of its French magazines business, industry sources told AFP on Tuesday.

Springer is looking to sell its PGP (Presse grand public) division, which comprises magazines such as "Gourmand", "Tele Magazine" and "Maison", and is currently negotiating with a potential buyer, the source said, without revealing any names.

The French daily Les Echos said the potential buyer was Reworld Media, which acquired the magazine "Marie-France" earlier this year.

A spokesman for Axel Springer declined to comment on the information.

The German giant publishes the mass-circulation daily Bild and is looking to expand in the area of digital media.

In France, it recently acquired Internet portals such as SeLoger.com and also holds a majority stake in Aufeminin.com.

Springer also holds a 50-percent stake in EMAS, which publishes the magazine "Auto Plus". But that stake is not up for sale, the industry source told AFP.

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http://www.globalpost.com/dispatch/news/afp/130625/axel-springer-eyes-sale-some-french-assets