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

Mediabistro Job Fair

Mediabistro Job FairLand your next big gig! Join us on Janaury 27  at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media companies, network with other professionals and industry leaders, and land your next job. Register now!