SOURCE: Hearst Corporation

Hearst Corporation

December 31, 2010 15:49 ET

Hearst Corporation and Lagardere SCA Enter Into Exclusive Negotiations for Hearst's Acquisition of Lagardere's International Press and Magazine Business

NEW YORK, NY--(Marketwire - December 31, 2010) - Hearst Corporation and Lagardère SCA announced today that they have entered into an agreement providing for exclusive negotiations until January 30, 2011 for the acquisition by Hearst of Lagardère's international press and magazine business in an all cash transaction.

About Hearst Corporation
Hearst Corporation (www.hearst.com) is one of the nation's largest diversified media companies. Its major interests include ownership of 15 daily and 38 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; more than 200 magazines around the world, including Good Housekeeping, Cosmopolitan and O, The Oprah Magazine; 29 television stations, which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet and marketing services businesses, television production, newspaper features distribution and real estate.

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