Get Media Industry Alerts
Visit min's sister site:


Facebook  Twitter  LinkedIn   Google+   
Latest Issue »
Subscribe Now »
Get 4
Free Issues »
BREAKING NEWS & VIEWS

Hearst Is a Step Closer to Owning Lagardère's Int'l Magazines


Tuesday, March 29, 2011


On March 28,  Lagardère SCA and Hearst Corp. signed a "share purchase agreement" for the 651 million euros (approximately $917.7 million) sale of Lagardère's 102 non-French
magazine properties.

Announcement by Lagardère followed the Jan. 31 agreement that gave Hearst exclusive negotiating rights. The signed deal came after the necessary due diligence, but regulatory approval in certain European countries is required for the transaction to close.  That, said Lagardère, "is expected to occur in the coming months."

Effect upon closing in the U.S. means that Hearst Magazines will own Woman's Day, Car and Driver and Road & Track from Lagardère's Hachette Filipacchi Media U.S. unit. Hearst will also manage the business sides of Elle and Elle Decor, with Lagardère retaining editorial control. That will make the Elle a "cousin" of 25-year fashion-magazine rival Harper's Bazaar and, with the signature now in hand, speculation will build further on how this will pan out.



If you have breaking news to share please contact min's editors.


Friend Us on Facebook at www.facebook.com/minOnline.

COMMENTS

min's Sales Executive of the Year Awards
Entry Deadline: May 6
Enter Today

min's Best of the Web Awards Breakfast
May 10 | Yale Club, NYC
Register Today

min day Summit
May 10 | Yale Club, NYC
Register Today

See all events and awards

Search Jobs
Media Jobs
Publisher
Stagnito Business Information
Randolph, NJ

Sales Director
Star Tribune Media
Minneapolis, MN

Associate Editor/Content Specialist
Specialty Food Association
New York City

Audience Development Director
Sosland Publishing Company
Kansas City, MO

Senior Writer
Angie's List
Indianapolis, IN


White Papers
Get even smarter.  Need a quick primer on a media topic? Download a white paper!

Optimizing Your Printer Services - By MRI

Media Insights: minsider Viewpoints from the Front Lines - By min


View Whitepapers
min Contests

min contests





Want to sponsor a min contest?

Inside min This Week




min
Free Eletters — Sign up Now