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Abaca Press photo agency acquired by Paris Match magazine

Abaca Press owner Jean-Michel Psaila (middle) confirming the new relationship at the Paris Match offices today. France based editorial photo agency Abaca Press, founded by Jean-Michel Psaila in 1992, has been acquired by the Paris Match magazine. Deal Details: • Paris Match has acquired an 80% stake in ABACA. • As the news image market consolidates, Paris Match seeks to support ABACA in its development of video content and in its strategic integ…

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themedialeader.com

Paris Match Buys the Agency Abaca to Strengthen Its Image Business - the Media Leader

One year after its acquisition by LVMH, Paris Match pursues its diversification strategy by taking a majority stake (80%) in the Abaca photographic press agency, founded in 1992 by Jean-Michel Psaïla, which retains its presidency and the remaining 20%. The operation, finalised on Thursday 24 July, was not quantified. It is part of a dynamic concentration of the information image market, in a context of strong competition in the visual content se…

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