Hearst To Buy Lagardere Magazines For €651M

Law360, New York (January 31, 2011, 1:52 PM EST) -- Hearst Corp. announced Monday it will pay €651 million ($891 million) in cash for 102 titles in Lagardere SCA's magazine portfolio, including Car and Driver and Women's Day, just days after the French conglomerate was indicted for insider trading.

The French media giant will still retain control of Elle, but will license the trademark to Hearst for use in 15 countries, including the U.S., the U.K. and China, according to the terms of the deal.

Hearst — which already owns Cosmopolitan, Esquire and Popular Mechanics, among...
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