Photo from Daily Stab.
Remember when I said Hearst was looking at buying Elle, well now it looks like Hearst may have some competition. I must say, if Elle is sold to anyone, I hope it would be Hearst and not Bauer. The last thing I would want is for the fashion magazine to turn into a celebrity driven content machine. What do you think? Find out more details below.
NO SALE YET: Robbie Myers, Joe Zee and their colleagues at Elle will have to wait a little longer to see if they’ll have new cousins over at Hearst. Elle’s French owner, Lagardère, is believed to have two offers for its publishing portfolio, one from Hearst and one from Germany’s Bauer Publications. Reportedly, Bauer has proposed 650 million euros to 700 million euros, or $850.3 million to $915.7 million at current exchange. There are a few roadblocks in the way of a sale, namely control over Elle, but sources said a deal (if it happens) won’t happen until after the holidays. Nonetheless, some investors are anticipating a deal, trading Lagardère’s stock up 4.9 percent to 30.84 euros, or $40.35, earlier last week.