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Make It Official, Already!

"[Hearst] is on the verge of spending $700 million to $800 million to pick up the Hachette International portfolio from Lagardère that includes Elle, Elle Decor, Woman’s Day and Car and Driver (Lagardère would keep the French titles). The deal will make Hearst the second-largest magazine company in the U.S. in terms of circulation, audience and advertising, surpassing Condé Nast." It will also make Hearst the foremost shelter-media destination. [WWD]