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Lagardere SCA Announces Closing of the Sale of Its Magazine Business To Hearst Corporation in the United Kingdom and to Local Partner in the Czech Republic
Lagardere SCA announced that it has completed the sale of its magazine business to Hearst Corporation in the United Kingdom. The sale covers seven titles. In addition, the sale by Lagardere SCA of its magazine business in the Czech Republic to the local partner, which already owned 50% of the joint venture, has been finalized. The sale covers six titles. The sale underway in China is expected to close before the end of 2011, thereby completing the entire transaction. Financial terms were not disclosed.
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