Insiders are buzzing today over a potential handover of Elle Magazine from Hachette Filipachi to Hearst.
Move over, Amanda, you may not be the most newsworthy addition to the offices at Hearst for long, it seems. In an apparent effort to prop up the third-place contender in the fashion ad pages race, the Hearst Corporation is said to be gunning for the US edition of Elle, a magazine that has maintained a brief lead over Anna Wintour's usually dominating Voguein ad revenues. The $200-million acquisition would be a significant one for the publisher, whose profits have recently fallen to $100 million down from $325 million last year.
Very, very interesting. What's next, walking into a Saks-owned Bloomingdales?