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 integration of Al.
• ABACA, under the leadership of its founder Jean-Michel Psaila, will maintain its operational autonomy serving its media, agency, or corporate clients, as well as its agency and photographer partners.
• Over the past 30 years, ABACA has adapted to industry changes, developing an archive of 30 million photos. A true reference in its field, the agency produced approximately 300 magazine covers in France and internationally in 2024, and receives nearly 20,000 photos each day, with 3,000 distributed worldwide by major publishers.
• Paris Match is owned by luxury goods group LMVH.
Paris Match told PAN: ‘This majority stake acquisition also aims to accelerate the development of Paris Match’s Image business, through the commercialisation of its archive assets and in-house reportages, leveraging ABACA’s knowledge of international markets. Paris Match’s Image business is intended to diversify the brand’s revenue streams, complementing its media activity led by the Magazine and Digital platforms. ‘As the news image market consolidates, Paris Match seeks to support ABACA in its development of video content and in its strategic integration of Al.’
PAN reader Jean Michel at ABACA told us this afternoon: “After 30 years of entrepreneurship, it is with pride and genuine emotion that I see my company joining Paris Match, a recognised authority in the media industry, and in the LVMH group. My motivation and commitment remain as strong as ever. This marks the end of one chapter and the beginning of a new, equally promising one for my team and myself.”
“We are very proud to welcome Abaca’s expertise and international presence to Paris Match. Its know-how in covering French, American, and global news, capturing sporting events, and commercializing its photo archive will greatly enhance our strategy to create a leading global platform in photojournalism,” said Jérôme Béglé and Pierre-Emmanuel Ferrand, Paris Match.
View all Abaca Press news on PAN