Hearst bids for Lagardere magazines

Hearst Corp. has offered 651 million euros ($892 million) for Lagardere SCA’s magazine business,

the Associated Press reported.

The deal would involve 102 titles in 15 countries.

Under the terms of the deal, Lagardere would keep its biggest magazine,

Elle,

but would license international publishing rights to the title to Hearst for about 8 million euros per year, the AP report said.

Lagardere’s titles include

Car & Driver

and

Woman’s Day.

(Source: Associated Press, Jan. 31, 2011.)