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Kennedy family sells stake in George magazine to Hachette

By Associated Press, 10/27/99

NEW YORK - Hachette Filipacchi Magazines has agreed to buy the remainder of George, the political magazine founded by the late John F. Kennedy Jr., from the Kennedy family for an undisclosed amount.

The agreement announced Wednesday ensures the survival of the 4-year-old magazine, whose fortunes had been slipping. Kennedy's death in a plane accident July 16 in waters off Massachusetts deepened those concerns since he was also the magazine's editor.

Kennedy's sister Caroline said in a statement that she was pleased that Hachette would continue to publish the magazine. "It's a tribute to John's vision. John believed in George, and in the public's interest in politics when presented in a fresh and vital manner."

Jack Kliger, president of Hachette, said the magazine had "terrific potential" and that the company would make "a significant investment in all aspects of George's operations."

Hachette, a subsidiary of the French publisher Hachette Filipacchi Medias, publishes 28 consumer magazines, including Elle, Premiere, Road &Track and Mirabella.



 


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