NEW YORK ( TheStreet) -- Hearst is in talks with Lagardere about acquiring Lagardere's international press and magazine business, the two companies announced Friday.

The two sides said they had agreed to conduct exclusive negotiations until Jan. 30.

Paris-based Lagardere's magazines include Elle and Car & Driver.

New York-based Hearst's newspapers include the Houston Chronicle and San Francisco Chronicle. It also owns more than 200 magazines, including Good Housekeeping and Cosmopolitan, as well as TV stations and stakes in cable networks.

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This article was written by a staff member of TheStreet.

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