The Financial Times reports:
Hearst, the US publisher of Cosmopolitan and Esquire, will use the acquisition of Lagardère’s international magazine business to test new digital business models in emerging markets and increase its global footprint, executives said.
The €640m ($920m) deal, which closed on Tuesday after being announced in January, will give Hearst nearly 100 titles in 14 countries outside of France. The acquisition also involves 50 websites and several mobile and tablet applications, which Hearst will integrate into its existing push to bring its content to tablets such as the iPad.
“The penetration of these devices is picking up speed,” said Duncan Edwards, president and chief executive of Hearst Magazines International. “All around the world there is testing going on, every conceivable price point is being tested. There’s a hell of a lot going on.”
