Hearst Acquires Road & Track and Car & Driver

Hearst Corporation has acquired Car and DriveRoad & Track, and Cycle World plus another 100 titles in 15 markets (U.S., Russia, Ukraine, Italy, Spain, U.K., China, Japan, Netherlands, Czech Republic, Hong Kong, Mexico, Taiwan, Canada and Germany) from French publisher Lagardere SCA for $889 million.

Lagardere is pruning its international branches, and said that “that the international magazine unit lacked the scale to compete effectively in the United States and other markets.” According to the New York Times, the businesses sold include “102 publications in 15 countries or territories, with 774 million euros in revenue last year.” Hearst picks up the publishing rights for Elle in the 15 markets listed above, while Lagardere will continue to own the trademarks and French publication of Elle.

No doubt this is a further step toward full consolidation of the Fab Four consumer automotive titles.

The deal will close by Q3 2011. Full details at The New York Times.

Popularity: 1% [?]


Eric's Consulting Services for Publishers

Post a Response