Hearst Completes U.K. Portion of Lagerdere Acquisition
Includes U.K. publishing rights for ELLE, ELLE DECORATION and Psychologies.
Hearst’s U.K. division, the National Magazine Company, is officially merged with Hachette Filipacchi UK Ltd. The group is now under the moniker Hearst Magazines UK.
Upon the completion of this acquisition, Hearst has the U.K. publishing rights of ELLE, ELLE DECORATION and Psychologies; the company can now claim ownership of Red, All About Soap, Inside Soap, Digital Spy and Sugarscape. Hearst Magazines U.K.’s portfolio includes 26 magazines and 22 digital assets, which reach a print audience of 16 million adults and 20 million monthly online unique users, according to a press statement.
Other Hearst Magazines U.K. properties include Good Housekeeping, Harper’s Bazaar, House Beautiful and Cosmopolitan Bride.
The U.S. portion of the Hearst acquisition of Lagardere (which represents 50 percent of the deal’s total magazine revenue; the other half is internationally based) was completed on May 31 for $893 million. According to investment banking firm Berkery Noyes, this made it one of the most valuable transactions of first half 2011; Western Australian Newspapers Limited led the pack with its purchase of Seven Media Group, reportedly worth $4.145 billion.