Hearst Makes Major Magazine Buy

Hearst just got a bigger sandbox to play in. The media company announced it's buying a huge set of magazines owned by the French media conglomerate Lagardère, including such recognizable brands as Car and Driver, and non-French versions of Elle. The $889 million deal, including 102 publications in 15 countries, came after months of negotiations, as Lagardère is under pressure from shareholders to improve performance.