As 2010 drew to a close, rumors of French-based media conglomerate Lagardére selling off international divisions including Hachette Filipacchi Media U.S. (HFMUS) to Hearst began to heat up. Today those rumors have been substantiated as Adweek is reporting that the two sides confirmed that they are in fact discussing a deal that would involve Lagardére selling their overseas press and magazine business to Hearst. Among the major titles that would move from HFMUS to Hearst are Elle, Women’s Day, Car and Driver, and Road & Track.
The exclusive negotiations between Lagardére and Hearst will run through Jan. 30. Other suitors that are looking to enter the Lagardére sweepstakes are Germany’s Bauer Media Group and the Meredith Corp.
UPDATE: According to WWD, Lagardére is pushing to retain editorial control over Elle even if Hearst purchases the magazine.