HEARST BIDS FOR EMAP?: Hearst is said to be one of the companies in the running to become the new owner of British publishing giant Emap's consumer magazine division, which includes titles such as Grazia, Heat, Pop and FHM. Emap revealed a strategic review of its business — which, alongside the consumer publications, comprises B2B titles such as WGSN and a radio division — in July. The company said in August it would provide those parties that had shown interest with further information about the company. According to British press reports, Hearst has offered around 700 million pounds, or $1.4 billion, for Emap's consumer publishing business and, if its bid succeeds, would become the U.K.'s largest consumer magazine publisher — ahead of Time Inc.'s British subsidiary, IPC Media (although there is speculation in some quarters that Time might be looking to sell IPC). Through its National Magazine subsidiary, Hearst currently publishes British titles such as Harper's Bazaar, Cosmopolitan, Esquire and Good Housekeeping. But while a winning bid would give it control of such current newsstand stars as Grazia and Pop, Hearst would have to figure out how to turn around the declining FHM and the lagging Heat. A spokeswoman for National Magazine declined to comment on the reports, as did a spokeswoman for Emap. Since Emap unveiled the planned breakup, parties including Apax Partners, Guardian Media, DLJ Merchant Banking Partners and Texas Pacific Group are said to have expressed interest in parts of the business. The Emap spokeswoman said the company would issue an update on the review Nov. 13, when it releases its first-half results. — Nina Jones

THE YOUNG AND RESTLESS: The precocious founders of the Coutorture fashion blog network, Julie Fredrickson and Phil Leif, have revealed the reason for their recent move to San Francisco: They have been acquired by Sugar Inc., the publisher of the PopSugar celebrity blog that is backed by $15 million from Sequioia and NBC. Terms of the cash-and-stock deal were not disclosed. Fredrickson will continue as editor in chief of the network. Leif, who left a programming job at Gucci, will become Sugar senior engineer.

Leif and Fredrickson, both in their early 20s, became acquainted through each other's blogs shortly before they moved to New York and met in person in early 2006. In short order, they founded Coutorture, which they ran out of various sublets, moving every few months for more than a year.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus