Well, it's official. After a solid month of closed door meetings and rampant speculation in the press, Lagardère SCA has decided to sell its international magazine business to Hearst Corporation for its offer of $885.6 million at current exchange.
The deal will cover 102 titles, including a master license agreement for the Elle magazine trademark in 15 countries. However, Lagardère will retain ownership of the Elle trademark and plans to oversee brand consistency, according to WWD. The deal is expected to close later this year.
Article Source: WWD
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