Lagardere / Hearst Partnership Is Not To Be, At Least Not Anytime Soon
Lagardere and Hearst have finally broken their silence regarding their rumored partnership. As we reported earlier, yesterday marked the day Lagardere presented its first-half results to investors, and there was speculation that the company would take the opportunity to make a definitive announcement of some sort following weeks of silence. Word was that Hearst would take a 50 percent stake in Lagardere’s U.S. magazines, including Elle.
But, according to WWD, Lagardere stated, during a conference call, that while it had received “some interest from companies,” there is currently no set plan to sell its magazines to a U.S.
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