Hearst and Lagardere Make it Exclusive

french twilight Hearst and Lagardere Make it ExclusiveHearst 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.

@kstoeffel :: kstoeffel@observer.com

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