Hearst and Lagardere Make it Exclusive

Hearst is in exclusive negotiations to buy Lagardere’s international magazine group until January 30, reports Bloomberg.

Lagardere’s magazine unit brought in $2.3 billion in 2009 and will be sold for cash only. The Paris-based company said in December that they would like to retain editorial control of Elle.

Lagardere will focus on their domestic magazines, book publishing, and a new venture into sports marketing.

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