Hearst, Lagardere Reach Agreement
Hearst is buying 102 magazines from Lagardère for €651 million, the French publisher announced in a release. Lagardere will keep the ELLE trademark but Hearst can use ELLE in fifteen countries: The United States, Russia & Ukraine, Italy, Spain, UK, China, Japan, The Netherlands, Czech Republic, Hong Kong, Mexico, Taiwan, Canada and Germany.
Among the 102 titles Hearst gets are Car and Driver, Road & Track, Cycle World and Woman’s Day, and of course Elle.
The deal will close by the third quarter of 2011, the company said.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in