TWO DOWN, MORE TO GO: Hearst Corporation said today it has completed the U.K. segment of its international deal to buy or publish Lagardere SCA’s magazines. The deal puts the National Magazine Company, Hearst’s main U.K. business, and Hachette Filipacchi UK Ltd. under the same umbrella and the new organization is called Hearst Magazines U.K.
This story first appeared in the August 3, 2011 issue of WWD. Subscribe Today.
The deal gives Hearst the U.K. publishing rights to the international titles Elle, Elle Decoration and Psychologies. It also gives Hearst ownership of the women’s monthly lifestyle title Red, All About Soap, Inside Soap, Digital Spy, the show business and entertainment news site, and Sugarscape, the online iteration of Sugar magazine, which closed earlier this year.
Hearst’s new U.K. business comprises 26 magazines and 22 digital assets and other branded properties. Hearst said it will now reach 16 million adults in print and 20 million monthly unique users online.
In June, the U.S. portion of the $919 million deal closed. The French company is selling Hearst its operations in the U.S., Italy, Spain, Japan, the Netherlands, Hong Kong, Mexico, Taiwan, Canada and Germany, as well as in Russia, Ukraine and the U.K., with the bulk of the deals yet to be finalized. A local partner in the Czech Republic, not Hearst, will acquire its business there.