French Firm to Buy 12 Magazines

Diamandis Communications Inc., a leading consumer magazine publisher, said today that it has agreed to be acquired by the French communications concern Hachette SA in a deal valued at $712 million.

The Diamandis deal includes 12 consumer magazines, including Woman’s Day, Car and Driver, Popular Photography, Road & Track and Boating. Diamandis Communications was created only last fall when it acquired the magazine division of CBS Inc. for $650 million.