TVNewser Jobs PRNewser Jobs AgencySpy Jobs SocialTimes Jobs

Hearst/Hachette Acquisition Is Complete

Hearst has closed the U.S. portion of its $913 million acquisition of Lagardère SCA’s non-French magazines.

That’s Elle, Elle Decor, Car & Driver, Cycle World, Road & Track and Woman’s Day, which make up Lagardere’s Hachette Filipacchi Media U.S.

Hearst now owns outright the latter three magazines and publishing rights “in perpetuity” for Elle and Elle Decor in every language but French. This purchase makes Hearst the second largest magazine publisher in the U.S., after Time Inc.

As for the logistics of the merger, HFM staffers will be moving to Hearst Tower “within six to 9 months,” according to Hearst Magazines president David Carey.

That is, about 60 percent of those staffers. Keith Kelly noted back in March that the merger is expected to result in the layoffs of 30 percent of the combined staffs.

Mediabistro Course

Social Media 201

Social Media 201Starting October 13Social Media 201 picks up where Social Media 101 left off, to provide you with hands-on instruction for gaining likes, followers, retweets, favorites, pins, and engagement. Social media experts will teach you how to make social media marketing work for your bottom line and achieving your business goals. Register now!