On Tuesday, the U.K. media company Future announced it had acquired the joint venture between Hearst Magazines and French business Marie Claire Album that has produced Marie Claire U.S. for the past 27 years, making it the sole owner of the title.
Zillah Byng-Thorne, CEO of Future — which already publishes Marie Claire U.K. — said, in a statement: "Our continued growth and success is proof of our strategy in action. We've had fantastic results expanding the Marie Claire U.K. brand and we believe that with our expertise in terms of audience, e-commerce and platform, we can develop the offering to grow the Marie Claire U.S. audience significantly."
According to an internal e-mail obtained by Fashionista sent by Hearst Magazines President Debi Chirichella, Marie Claire U.S. staffers were notified of the acquisition this morning. "Over the past 27 years, we have worked closely with our French joint venture partner, Marie Claire Album, to create Marie Claire U.S. Our focus has always been on strategic long-term growth for the brand," she wrote. "As the industry continues to evolve, the partners believe that the brand would be better served by a single owner, rather than the current 50/50 joint venture structure."
This transaction grants Future "a license to produce Marie Claire U.S. for the next five years," according to a press release from the U.K. media company.
Hearst did not immediately respond to Fashionista's request for comment.