The World: Paris - Berlusconi's Mondadori close to buying Emap France

The Italian media empire Mondadori is close to buying the French arm of Emap's publishing business.

Citigroup and BNP Paribas, the two investment banks handling the sale, have granted a period of exclusivity to Mondadori to come to an agreement.

The deal could be worth as much as EUR570 million, with proceeds going to Emap shareholders.

Mondadori is owned by the former Italian prime minister Silvio Berlusconi.

The company has a 50 per cent stake in the Italian divisions of Gruner & Jahr, Hearst and Rodale.

Emap announced plans to sell its French business in February after failing to turn around its ailing TV listings titles Tele Star and Tele Poche.

Become a member of Campaign from just £46 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).