Hearst to bid for VNU titles

Brand Republic 11-Jun-01, 14:12

US media giant Hearst is expected to make a £740m offer for VNU's international collection of consumer titles, which are being auctioned this week.

VNU's consumer titles include puzzle magazines The Puzzler and Quiz Kids in the UK, Cosmopolitan in Russia and FHM in Romania. The Netherlands-based company put the consumer business up for sale after it acquired research group AC Nielsen last December.

The second round of the auction for the titles ends on Wednesday. It is understood that Hearst, which publishes Cosmopolitan, Esquire, Harper's Bazaar and Good Housekeeping, will make its bid in partnership with investment bank ING Barings and Russian media group Independent Media.