Hearst Bumps Fitch Stake To 50% For $177M

Law360, New York (February 9, 2012, 6:18 PM EST) -- Hearst Corp. has agreed to pay $177 million to take on another 10 percent stake in Fitch Group from its French parent company Fimalac SA, giving the duo an even interest in the investment ratings agency, the companies said Thursday.

The deal, which still requires regulatory approval, will give Hearst and Fimalac each a 50 percent stake in Fitch, which includes both the company's marquee ratings agency and Fitch Solutions, which distributes the ratings unit's products and other data.

The New York-based publishing giant has held...
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