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The article attempts to examine the evolution of the financialization of Lagardère, a versatile media group with strong international positioning. It focuses on the analysis of the evolution of its industrial and financial tactics, their managerial structures and activities, in terms of public policy liberalization of the movement of capital and the support of successive political powers from which it benefited. It examines the successive changes in the capital structure of Lagardère (especially the weight of non-resident financial players that have become majority shareholders), and the links between financialization and the group's development policy (with research activities with high-potential development and a policy of special dividends), revealing the links between economics and industrial policy. It notes the major trends at work in the conglomerate and also compares the tactics of competitors. Finally, the specifics of Lagardère face theories from the work of researchers in the cultural industries and communication field.