PARIS  Lagardère SCA today announced a €651M binding offer by Hearst Corporation for the sale of it’s international publishing empire (102 titles in 15 countries), including the industry leader Cycle World brand, part of the HFMUS portfolio of titles.

elle trademark retained

Lagardère would retain control, however, of it’s iconic ELLE trademark, which it will continue to license for various markets including mobile, print and product, and thus benefit from future royalties.

According to the press release, the parties have until Q3 2011 to complete the sale.