Hearst Has Officially Bought Elle Magazine

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Photo: Courtesy of Elle

After a month of exclusive negotiations, Lagardère has sold all 102 of its international titles, including its fifteen international editions of Elle magazine, to Hearst Corporation for 651 million euros in cash (about $885.6 million). It's still unknown to what degree Lagardère will retain editorial control over Elle, per their requests during the negotiations, but WWD reports that Lagardère "retains ownership of the Elle trademark and plans to oversee brand consistency." The deal is expected to close within months.

Lagardère Sells International Magazines to Hearst [WWD]
Earlier: Lagardère Wants to Keep Editorial Control of Elle After They Sell It to Hearst