Hearst is set to purchase the Lagardere-owned magazines published outside of France, including Elle, Road & Track, and Woman’s Day. (These magazines are published under the U.S. unit Hachette Filipacchi.)
Layoffs will likely accompany the big move; 30 percent or more of the staff would be cut if the purchase gets final approval in Europe, the New York Post reports. The transaction is costing Hearst $918 million, according to the AFP.
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