As Lagardere and Vivendi both take steps to ease the path towards approval of their pending merger by the European Commission, Lagardere’s board has approved a plan floated earlier to preserve the independence of their radio division. The company intends to spin the radio division (comprising Europe 1, Europe 2 and RFM) into a separate, limited-partnership holding company. Arnaud Lagardère would be “indirectly the general partner and personally the managing partner,” and he “would be solely responsible for supervising the managers and teams of the radio division and would be the ultimate decision-maker on editorial policy.” There had been longstanding […]