Lagardere, Filipacchi form $1.96bn publisher

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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 and Premiere. 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.

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