The transaction is expected to finalize in early September.
Other titles included in the sale are Version Femina, Art & Décoration and Public, the group said.
Other titles expected to be included in the sale are Version Femina, Art & Décoration and France Dimanche.
Advertising revenues fell 6.3 percent in the magazine business over the first half despite resilience in circulation numbers, the group said.
Advertising revenues fell 8.1 percent in the first quarter, impacted by the run-up to French presidential elections, the group said.
Losses for the publisher of French Elle and Paris Match were offset by other divisions.
The publisher of the French edition of Elle and Paris Match said circulation at its magazines fell 9.1 percent, while advertising revenues declined 5.1 percent.
The “difficult situation” was partially offset by resilience in circulation and fast growth in digital.