PARIS -- Lagardere Group, a diversified technology, defense and media group, plans to merge with Filipacchi Medias in a stock swap that gives Lagardere 66% of Hachette, publisher of Elle
, Car & Driver
. Lagardere said the new company, to be known as Hachette Filipacchi Medias, will have $1.96 billion in annual revenues, making it the world's largest magazine publisher. No management changes are expected.
Copyright April 1997, Crain Communications Inc.