Hearst Buys Elle and a Bunch of Other Magazines For $889 Million
French media conglomerate Lagardère announced this morning that it would sell the foreign editions of Elle, as well as about 85 other foreign magazine titles, to Hearst for about $889 million. French Elle will still be owned by the company, and although Hearst will have control of all other Elle licenses, Lagardère will still have a say in its branding. (Supposedly.) None of this comes as a surprise, since Lagardère made it clear around the holidays that it was in exclusive talks with the American media empire to sell off its foreign titles. As for the changes you'll see at Elle, don't expect many over the next year.