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France

Lagardère sells international magazine titles to Hearst

AFP
2 min

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.

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The French group owned by Arnaud Lagardère said Monday that it received the official offer from Hearst for 102 magazines, sold in 15 countries, including 17 in Spain, 11 in Japan and seven in the US.

Lagardère will continue to control the Elle brand worldwide, granting Hearst licenses to publish 16 editions.

Elle, founded in 1945, is published in 42 editions outside of France.

Hearst publishes 15 daily newspapers, 38 weekly publications, 29 television channels, and over 200 magazines around the world, including the women’s magazines Cosmopolitan and Harper's Bazaar.

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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