Some (kinda?) news is trickling in regarding the ongoing rumors of a Hearst and Lagardere (Hachette Filipacchi Media’s U.S. parent) deal. Spokespeople from both sides aren’t talking (and some top staffers at both Hearst and Lagardere may still be in the dark concerning the deal), but WWD is reporting that news about the deal might be formally announced once “corporate bigwigs here and in France (especially) return from their summer vacations.” Ah, Europeans and their summer vacations. And literal bigwiggery.
Sources say that the deal would be worldwide and see Hearst acquiring a nearly 50 percent stake in Lagardere’s magazines.