Today, IMG Fashion announced the sale of The Daily Group to Daily Front Row Inc., a company controlled by The Daily’s founder and editor-in-chief Brandusa Niro. As part of the sale, The Daily will retain its status as Magazine of Choice for Mercedes-Benz Fashion Week; financial terms of the deal were not disclosed.
As The Daily reported on December 27, LagardÃ¨re has engaged in exclusive talks with Hearst concerning the sale of its international press and magazine business. The French conglomerate made the announcement on December 31. The two parties have set a January 30 deadline to negotiate the all-cash transaction. The German conglomerate Bauer Publications and Meredith Corporation were also reported to be in the running, but it appears that they are now off the table.