Hearst Buys Elle and 101 Other Lagardère Magazines for $917 Million
The deal that's had the media world buzzing for months is finally official: French publishing conglomerate Lagardère SCA has sold its international magazine portfolio—including the coveted U.S. Elle—to Hearst Corp.
According to Women’s Wear Daily, Lagardère has sold 102 titles to Hearst, including 15 international editions of Elle from the likes of the U.S., Canada, Italy, China, and Japan. However, Lagardère isn’t giving up all its Elle ties: The company will retain French Elle (which is published weekly rather than monthly) and the Elle trademark.
The total cost of the deal is 651 million euros, or $917.7 million U.S.. The final transaction will reportedly take place in the coming months, though the purchase agreement has been signed.
Get the full story from WWD.
