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Lagardere Could Bring 700 Million Euros

  • Reuters, Wednesday, December 22, 2010 9:51 PM
The French publisher of Elle is nearing a decision to sell its portfolio of international titles to one of two bidders: U.S.-based Hearst Corp or Germany-based Bauer Media Group. Media group Lagardere would reap about 600 million to 700 million euros ($786 million to $916 million) from the sale, according to a source.

Lagardere said in early December it was seeking to sell its international magazine division as it was cutting costs and shifting its focus to other assets based in France. Lagardere publishes 212 titles, including Car and Driver and Woman's Day, in 45 countries.

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