N.Y. Times to Acquire McCall’s

New York Times Co., which already publishes Family Circle magazine, said Monday that it has agreed in principle to acquire McCall’s magazine.

Terms were not disclosed, but the sale agreement followed recent published reports that the U.S. subsidiary of France’s Hachette SA had broken off an informal agreement to buy McCall’s.

The agreement is subject to approval by the boards of the companies, regulatory approval and signing of a definitive agreement.

Family Circle and McCall’s are part of a group known in the publishing industry as the “Seven Sisters” women’s service magazines. The others are Woman’s Day from Hachette’s Diamandis Communications, Good Housekeeping and Redbook from Hearst Corp., and Better Homes & Gardens and Ladies’ Home Journal from Meredith Corp.

William T. Kerr, president of New York Times Co.’s magazine group, said adding McCall’s would enable advertisers to reach nearly one-third of the adult U.S. women with little duplication.

McCall’s, owned by Working Woman-McCall’s Group, a joint venture of Time Inc. and media investor Dale W. Lang, is a monthly magazine with a circulation of 5.1 million, mostly subscription.

Family Circle is published 17 times a year and has a circulation of 5.9 million.

Working Woman-McCall’s Group would be left with the monthly magazines Working Woman and Working Mother.