Lagardère has found a Czech buyer for its magazines, including Elle

Lagardère announced on Wednesday that it has begun exclusive negotiations with press firm Czech Media Invest in the hopes of selling its French magazines, including Elle, the group's iconic women's magazine. 

Along with Elle and its different iterations, the project also concerns Elle's French websites, as well as magazines Version Femina, Art & Décoration, Télé 7 Jours and its offshoots, France Dimanche, Ici Paris, and Public.

Of its operations in the media sector, the group would therefore only retain Europe 1, Paris Match and Journal du Dimanche. It will also keep control of the Elle brand and all of its international licenses. 

Financial details of the transaction, which should conclude in the coming weeks, have not been revealed. 

The day before the announcement, Lagardère had already revealed the sale of its radio assets in the Czech Republic, Poland, Slovakia and Romania to the same group for 73 million euros. 

Arnaud Lagardère, general and managing director of Lagardère, has decided to refocus the company's operations on its publishing activities and its network of airport and train station kiosks.