US publisher: Offer to buy Lagardère magazines
The U.S. publishing company Hearst has offered 651 million euros for approximately 100 international magazine titles owned by the French Lagardère Group. Among the titles up for sale are the international editions of the women's magazine Elle, Lagardère announced on Monday.
Company boss Arnaud Lagardère explained the sale with the strong competition from Hearst (Cosmopolitan) or Condé Nast (Vogue, Glamour). However, the French edition of Elle is not for sale. Lagardère had already sold the French regional press. He wants to focus more on the sports business.
