European publishing company Lagardère SCA has been looking to sell some of its overseas divisions, including its U.S. branch Hachette Filipacchi, which owns Elle and Woman's Day, for quite some time now. Rumors began flying last week that Hearst had expressed interest but was facing stiff competition from Germany's Bauer Publications and New York's Meredith Corp. But now Hearst and Lagardère have admitted that they've entered into exclusive negotiations, according to an official statement made on New Year's Eve. A decision will be reached by January 30 about Lagardère selling its international press and magazines to Hearst for cash.
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