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Wasserman targeting Lagardère Sports takeover – report

Wasserman Media Group is reportedly in talks to acquire rival agency Lagardère Sports and Entertainment.

The Financial Times newspaper, citing people informed of the discussions, said the two parties have entered into a period of exclusive negotiations about a deal that could be worth between $250m (€222.6m) and $300m.

Lagardère Sports and Entertainment’s parent company, French media conglomerate the Lagardère Group, has reportedly come under pressure from activist investor Amber Capital to improve its governance and quicken a disposal programme.

Global sports and entertainment company Endeavor has previously been linked with a move for Lagardère Sports, which last month saw its chief executive Andrew Georgiou appointed by US media group Discovery to lead its Eurosport subsidiary.