Lagardère sells international magazine titles to Hearst
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The French publisher Lagardère announced Monday that it is selling its international magazines to the American publisher Hearst, in a 651-million-euro deal. Lagardère will keep royalty rights for the women’s magazine Elle, one of the publications it is selling off.
Elle, founded in 1945, is published in 42 editions outside of France.
By divesting itself from its many international magazine titles, Lagardère will be focusing its publishing and news empire on Elle in France, the weekly Paris Match tabloid magazine, the weekly Journal du Dimanche paper, as well as Europe 1 radio.
The group is look to enhance Lagardère Unlimited, its sports division run by Arnaud Lagardère himself, which provides marketing services to sports teams and athletes as well as television rights management.
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