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Hearst finally secured control of Elle magazine in its $892 million mega-deal with Lagardere last week, adding a top fashion title to its portfolio and bolstering its ability to compete with Condé Nast for luxury advertisers' business. Perhaps more importantly in the long run, however, the pact significantly expands Hearst's already considerable footprint in magazines around the world.
In addition to the right to publish Elle in the U.S., Hearst is acquiring stakes, licenses or outright ownership of 101 other magazines in countries including Russia, Japan, Spain, Italy, the Czech Republic, China, Hong Kong and the Netherlands.
A maturing magazine business in the U.S. has made other markets more attractive, according to Duncan Edwards, president and CEO at Hearst Magazines...