Elle, Woman's Day Owner Selling Hachette Mag Group to Hearst?

After months of speculation, Lagardère Active is close to a deal to sell to Hearst Corp. its U.S. magazine group, Hachette Filipacchi Media U.S., whose titles include Elle and Woman’s Day, sources said.
 
“It’s between Arnaud [Lagardère] and Frank [Bennack],” said an executive familiar with the talks, referring to the heads of both companies. “They have finally come to terms on management and on the editorial direction of the magazine.”
 
Word of a deal comes as the French parent revealed this week that it was talking with potential partners outside France as it looks for ways to reduce expenses overseas.