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Hearst, Lagardere Reach Agreement

Hearst is buying 102 magazines from Lagardère for €651 million, the French publisher announced in a release. Lagardere will keep the ELLE trademark but Hearst can use ELLE in fifteen countries: The United States, Russia & Ukraine, Italy, Spain, UK, China, Japan, The Netherlands, Czech Republic, Hong Kong, Mexico, Taiwan, Canada and Germany.

Among the 102 titles Hearst gets are Car and Driver, Road & Track, Cycle World and Woman’s Day, and of course Elle.

The deal will close by the third quarter of 2011, the company said.

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