Hearst to acquire magazine publisher Rodale Inc.
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.