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Hearst

Hearst has agreed to acquire Rodale magazine and its subsidiary health and wellness properties, like Men's Health, Women's Health and Bicycling. The deal is expected to close in early 2018. Terms have not been disclosed, although a source familiar with the matter tells The Wall Street Journal the price was under $225 million. Hearst Magazines, which includes dozens of brands like Elle and Good Housekeeping, will manage Rodale's multi-platform content business.

Why it matters: It's another example of consolidation in the print industry, which has struggled to stay profitable as users migrate to digital. The acquisition broadens Hearst's mostly lifestyle magazine portfolio and broadens their digital footprint.

Go deeper

Updated 32 mins ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 48 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.