PRINT RUN: French media group Lagardère said revenues in the first quarter rose 2.3 percent. Total revenues at Lagardère Active — the division that includes magazine publishing, radio, TV and digital — rose 1.6 percent on a like-for-like basis to 222 million euros, or $288 million at average exchange rates for the three-month period.
Magazine revenues continued their downward spiral, slipping 6.6 percent. Advertising revenues for the division slid 7.7 percent. Lagardère blamed disruptions in newsstand distribution due to strike action for a circulation decline of 8.4 percent.
Lagardère’s magazine titles, now focused mainly on the French market following the 2011 disposal of its international magazine business, include Elle, Be, Paris Match and Le Journal du Dimanche.
The group maintained its target for the full year based on an expected decline in advertising sales of 5 to 7 percent at Lagardère Active.