Hearst 'poised to add Elle to its publishing stable' - Press Gazette

Hearst 'poised to add Elle to its publishing stable'

Hearst Corporation, owner of British magazine publisher NatMag, is on the verge of adding Elle to its magazine roster, according to a report published over the weekend.

The US media giant is about to acquire the international magazines arm of Lagardère for £550m, according to the Sunday Times (paywall protected).

Under the deal, Lagardère will retain ownership of Elle but a licensing deal that will allow Hearst to publish it ‘at a cost of more than £10m a year”.

Lagardère, the French owner of UK magazine publisher Hachette Filipacchi, entered exclusive talks with Hearst last month over the sale of its international press and magazine businesses.

The two companies issued a joint statement on New Year’s Eve outlining how exclusive negotiations would be in place until 30 January over a possible cash sale.

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