US group Hearst – owner of NatMags in the UK – is to pay French media group Lagardere €651m for control of its international magazines, including UK arm Hachette Filipacchi, Press Gazette reports.
The agreement includes Elle (in the US, Russia & Ukraine, Italy, Spain, the UK, China, Japan, Netherlands, Czech Republic, Hong Kong, Mexico, Taiwan, Canada and Germany) among 102 Lagardère print titles in 15 countries as well as 50 websites and mobile and tablet apps.
Other titles include Woman’s Day, Car & Driver and Cycle World in the US, Red in the UK and Holland.
Lagardère will continue to own the Elle trademark and receive royalties. Before the deal, Lagardère was the largest magazine publisher in the world. Hearst will strengethen its international portfolio against Vogue publisher Conde Nast.