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Hearst Purchases Lagardére Magazines for $887 Million

Okay, now it’s official. Hearst Corporation announced this morning that it has acquired over 100 of Lagardére’s magazines, in a deal that has been talked about for quite some time now.

The question of what happens to Elle has been answered as well – Hearst will have publishing rights for the magazine in 15 countries, including the United States.

Hearst is paying $887 million for the titles, and all is expected to close by the beginning of the third quarter.

Nothing like starting off your Monday with a multi-million dollar deal. What happens next for the Hearst execs? How do you even top this? FishbowlNY bets it involves donut holes.

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