Hearst Corporation

Hearst Corporation is one of the most diversified communications companies in the world.

Assets

As of November 2014, the company's media assets include:

• 15 daily and 38 weekly newspapers, including the Houston Chronicle, the San Francisco Chronicle, the San Antonio Express-News and the Albany Times Union;
• about 200 magazines published worldwide, including ELLE, Marie Claire, Cosmopolitan;
• 29 television channels covering a total of 18% of the US viewership.

In addition, the conglomerate owns:

• a number of cable television companies, including A&E Television Networks and ESPN;
• publishing houses;
• 50% of the shares of the Fitch Group rating agency (the share was brought to 100% in 2018);
• distribution companies and real estate.

Among the largest assets of the corporation were:

Logs:

• Cosmopolitan
• Country Living
• Esquire
• Good Housekeeping
• Harper's Bazaar
• House Beautiful
• Marie Claire
• O, The Oprah Magazine
• Popular Mechanics
• Redbook
• Seventeen
• Town & Country
• Veranda
• Nat Mags

Newspapers:

• Beaumont Enterprise (Texas)
• Connecticut Post
• Edwardsville Intelligencer (Illinois)
• Greenwich Time (Connecticut)
• Houston Chronicle (Texas)
• Huron Daily Tribune (Michigan)
• Laredo Morning Times (Texas)
• Midland Daily News (Michigan)
• Midland Reporter-Telegram (Texas)
• The News-Times (Connecticut)
• Plainview Daily Herald (Texas)
• San Antonio Express-News (Texas)
• San Francisco Chronicle (California)
• seattlepi.com, former Seattle Post-Intelligencer (Washington)
• Times Union (New York)
• The Advocate (Stamford) (Connecticut)

Weekly newspapers:

• Advertiser North (New York)
• Advertiser South (New York)
• Ballston Spa Pennysaver (New York)
• Bulverde Community News (Texas)
• Business Express (Texas)
• Canyon News (Texas)
• Clifton Park North Pennysaver (New York)
• Clifton Park South Pennysaver (New York)
• Conexión (Texas)
• Darien News (Connecticut)
• Fairfield Citizen (Connecticut)
• Fort Sam Houston News Leader (Texas)
• Greenwich Citizen (Connecticut)
• Hardin County News (Texas)
• Jasper Newsboy (Texas)
• Kelly USA Observer (Texas)
• La Voz (Texas)
• Lackland Talespinner (Texas)
• Latham Pennysaver (New York)
• Marlette Leader (Michigan)
• Medical Patriot (Texas)
• Muleshoe Journal (Texas)
• Neighborhood News (Texas)
• New Canaan News (Connecticut)
• New Milford Spectrum (Connecticut)
• North Central News (Texas)
• Northwest Weekly (Texas)
• Norwalk Citizen (Connecticut)
• Our People (Texas)
• Pennysaver News (New York)
• Randolph Wingspread (Texas)
• Southside Reporter (Texas)
• Spa City Moneysaver (New York)
• Northeast Herald (Texas)
• The Weekly (New York)
• The Zapata Times (Texas)
• Vassar Pioneer Times (Michigan)
• Westport News (Connecticut)

Television, including cable

• A&E Television Networks (with The Walt Disney Company and NBC Universal)
• ESPN (share of 20%; together with Disney, which owns 80% of the asset)
• Hearst Television Inc. (29 TV channels and 2 radio stations)

Internet assets

• 1UP.com
• GameTab.com
• GameVideos.com
• MyCheats.com
• UGO
• Answerology
• Kaboodle
• eCrush
• RealAge
• Delish.com
• RealBeauty.com

Business in Russia

2022: Revocation of license for Esquire publication in Russia

On March 10, 2022, against the backdrop of a special operation of Russia in Ukraine, it became known that the owner of the Esquire brand, Hearst, decided to revoke the license to publish the magazine in the Russian Federation. Thus, the April number Esquire was the last.

2013: Failure to buy 100% of Sanoma's Russian business

In December 2013, it was reported that Sanoma had agreed to sell a 100% stake in its Russian division Sanoma Independent Media (SIM), which publishes the Vedomosti newspaper, Cosmopolitan magazine and other media. The buyer will be Hearst Corporation, which owns the Hearst Shkulev Media publishing house 50%. This was reported to Gazeta.Ru by a source close to the top management of SIM. Another source familiar with Sanoma's plans confirmed this information. The companies plan to announce the deal in a few days, the source said. Later, information about the transaction was not confirmed.

It was reported that as part of the transaction, shares in all assets of the Russian media holding SIM will be sold, in particular shares in the magazines Cosmopolitan, Esquire, Harper's Bazaar. They are published by the Fashion Press publishing house, which, in turn, belongs to 50% of SIM, 50% to Hearst Corporation. United Press will also be sold (published by Men's Health, Woman's Health, National Geographic, etc.). Together with the Italian company Mondadori SIM also publishes Grazia magazine.

The information that in the framework of the transaction will be transferred to the possession of Hearst Corporation and the share of SIM in the newspaper Vedomosti was not confirmed. It is published by Business News Media CJSC, in which SIM, Dow Jones and the Financial Times Group each own a 33% stake.

Subsequently, a stake in the Vedomosti business newspaper can be resold to new owners, the source said. On December 5, 2013, SIM representatives flew to London to meet with the FT leadership, where the future fate of the newspaper will be discussed, a source close to SIM said.

The scheme according to which Hearst will manage Russian units is not yet clear. It was speculated that the company could transfer Russian assets to Shkulev's trust, a source in the media market said. Or he will sell him shares in a number of publications, for example, a stake in Fashion Press, and he will allocate the rest as a separate asset, he argues. At the same time, another interlocutor of Gazeta.Ru, familiar with the situation in Hearst Shkulev Media, did not confirm the fact of the transaction.

The sale of SIM assets to Hearst Publishing House was one of the most anticipated options for the development of events, said a source in the media market familiar with the negotiations on the sale of SIM assets. According to him, the German publishing house Bauer refused to buy SIM.

For Hearst, an increase in share in the Russian market would correspond to the global trend: it buys assets in many countries, consolidating assets. The business of Russian magazines SIM and Hearst Shkulev Media will be positively affected. The purchase would allow the corporation to become the largest "glossy" media holding in Russia.

2011: Purchase of 50% stake in Hachette Filipacchi Shkulev/InterMediaGroup

June 3, 2011 Hearst Corporation completed the acquisition of a 50% stake in Hachette Filipacchi Shkulev/InterMediaGroup in Russia as part of the overall acquisition of Lagardère's international magazine business.

Commenting on the finalization, Duncan Edwards, President and CEO of Hearst Magazines International said: "We are pleased to complete the deal in Russia and that we have become partners with Viktor Shkulev in a company that has exceptional market positions. We look forward to working with Victor and his team of managers and are optimistic about the future. "

Viktor Shkulev added, "We are pleased with our partnership with Hearst, which is one of the most respected media companies in the world. Hearst Corporation has the highest standards of editorial content quality and in fact proves that it firmly believes in the bright future of the magazine business both in Russia and in world markets. "

As a result of the transaction, the procedure for changing the name of Hachette Filipacchi Shkulev/InterMediaGroup to Hearst Shkulev Media/InterMediaGroup has begun.

Internet Audience

2018: In the top 20 Internet giants by size of the Internet audience

Internet companies by audience size

History

2018: Hearst brought its stake in Fitch Group to 100%

On April 12, 2018, Hearst announced the purchase of a 20% stake in Fitch Group, a financial services company, from the French Fimalac SA for $2.8 billion.

According to the company's press release, it now owns 100% of the Fitch Group, which has become the largest business in Hearst.

Hearst acquired a stake in Fitch in 2006 and in 2015 brought the stake to 80%.

2009: Board of Trustees

According to the will of William Hurst, the board consists of thirteen trustees (five members of the Hurst family and eight "third-party" managers) and manages the Hearst Foundation, William Randolph Hearst Foundation, as well as a trust that is legally owned by Hearst Corporation and from which members of the Board themselves are elected.

As of 2009, the board of trustees included:

• Frank Bennack Jr. (Vice Chairman, CEO Corporation)^[1]
• Anissa Bujaji Bolson (Granddaughter of David Whitmaer Hirst Sr.)
• John Conomix (Vice President, Broadcasting)
• Ronald Doerfler (CFO, Senior Vice President)
• George Randolph Hurst, Jr. (Chairman of Hearst Corporation and President of Hearst Foundation)
• John Randolph Hurst, Jr. (One of the directors of the corporation)
• Virginia Hurst Randt (daughter of former chairman of the corporation, the late Randolph Upperson Hurst
• William Randolph Hurst III (President of the William Randolph Hearst Foundation)
• Harvey Lipton (lawyer, former vice president and secretary of the corporation)
• Gilbert Morer (former head of Hearst Magazines, then executive vice president at Benneck, currently serves as adviser)
• Mark Miller (former executive vice president of Hearst Magazines)
• David Barrett (President and CEO of Hearst Television, Inc.^[2]
• James Asher (Head of Legal and Director of Development)

The council will be dissolved when all family members who lived at the time of Hirst's death in August 1951 pass away. The transfer tables of the rights of disposal of the conglomerate are compiled before 2042-2043 ^[3]).

Notes

Links

• The official website of Hearst Foundation, Inc.
• [1] Hearst Magazines Subscription Site