Lagardere SCA, France’s biggest publisher, has reached an agreement in principle with Hearst Corp. on a price for its international magazines business, according to a person with direct knowledge of the situation.
The companies are still negotiating conditions for editorial control of the foreign editions of “Elle” magazine, said the person, who declined to specify the price or be identified because the talks are private. Lagardere announced the start of exclusive negotiations on a deal with the New York- based publisher of “Esquire” on New Year’s Eve.
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