Media Participations gets go-ahead for La Martiniere takeover

The French Competition Authority has authorised the takeover of La Martinière Groupe by Media Participations, which will create the third largest book publisher in France after Hachette Livre and Editis.
 
The authority announced that since the two companies specialize in different sectors of publishing, the deal “would not be liable to harm competition.” Media Participations focuses on comic and religious books and La Martinière on coffee table books and general literature. La Martinière’s flagship literary house is Le Seuil.
 
The two groups hold “limited positions” in all the markets concerned, the authority said, adding it had taken account of “the significant competitive pressure that France’s principal publishing groups would exert on the new entity.” Even though it will be the leader in comic books, the new group’s market share would increase only slightly against independent rivals such as Delcourt and Glénat. The authority was notified of the proposed takeover on 13th November.
 
The deal - first revealed in September - could by finalized by the end of this week, reported the French trade publication Livres Hebdo. Staff representatives at La Martinière said they were unable to deliver “an informed and reasoned opinion” on it for lack of information on the job and operational consequences, but this should not delay the timetable, Livres Hebdo said.