LVMH-Owned Paris Match Will Buy French Photo Agency Abaca

LVMH-owned Paris Match magazine is buying a controlling stake in the French photo and video agency Abaca as the luxury group continues to expand in the media business.

Paris Match is set to acquire 80% of the agency, the magazine said in a statement seen by Bloomberg. The price of the transaction isn’t known. Abaca had revenues of €3.7 million in 2023 ($4.4 million) filings show.