April 14, 1988 |
The French owner of the flashy Elle fashion magazine agreed Wednesday to pay $712 million to buy the company that publishes Woman's Day, Car & Driver and American Photographer. Paris-based Hachette would get the magazines owned by Diamandis Communications, a New York-based firm formed last year by a management-led buyout of CBS' magazine division. Hachette said the deal would make it the world's largest producer of magazines. "We're No.
April 14, 1988 |
From the Nice-Work-If-You-Can-Get-It Department: The deal struck Wednesday to sell several magazines to a French publisher translates into a whopping $303-million profit in six months. The purchase of Diamandis Communications and its magazines for $712 million by French magazine publisher Hachette comes only six months after the company was formed by the buyout of the magazine group from CBS.
April 13, 1988 |
Diamandis Communications Inc., a leading consumer magazine publisher, said today that it has agreed to be acquired by the French communications concern Hachette SA in a deal valued at $712 million. The Diamandis deal includes 12 consumer magazines, including Woman's Day, Car and Driver, Popular Photography, Road & Track and Boating. Diamandis Communications was created only last fall when it acquired the magazine division of CBS Inc. for $650 million.
September 25, 1990
Hachette Publications Inc. has terminated Peter Diamandis as chairman and chief executive of Diamandis Communications Inc. a little more than two years after buying out the magazine publishing firm. Hachette added that Diamandis Communications, which publishes more than a dozen magazines, including Elle, Woman's Day and Audio, was being renamed Hachette Magazines Inc.
October 2, 1987 |
CBS Inc. said Thursday that it will further study the options for its records group, which has reportedly attracted a sizable purchase offer from Sony Corp. CBS said its board, which met informally for three hours to discuss the matter, would consider it further at a regularly scheduled meeting Oct. 14. Separately, CBS said it had completed the previously announced sale of its magazine group for $650 million in cash to a group led by the unit's senior management.
January 19, 1988 |
When most people hear the name Guess, one thing comes to mind: expensive jeans. Now, the company's new president says she may soon want the Guess name to also stand for something else--jogging shorts and T-shirts. This move by Guess, however, will require more than guesswork. Before spending millions of dollars on a new line of athletic wear, Guess is testing the waters. And it is doing so without making much clothing.