Hearst Corporation, led by Steven R. Swartz, generated $11.4 billion in revenue in 2018. Over the past 12 months, the company has completed two major acquisitions — Clevver and 7 Hersam Acorn Newspapers. A&E, Fitch Group, Hearst Health, CAMP Systems International, and ESPN are some of the company's many businesses.
History and Notable Timelines
- Hearst Corporation was founded in 1887 by William Randolph Hearst.
- In 1913, Hearst Metrotone News was created, making it the first Hearst newsreel.
- In 1915, the company added the Hearst International Film Service.
- In 1978, Country Living was launched.
- In 1979, the company acquired "Edwardsville Intelligencer, Huron Daily Tribune, Midland Daily News, Midland Reporter-Telegram, and Plainview Daily Herald."
- In 1980, it also acquired First Databank.
- In 1981, Hearst partnered with ABC to launch A&E and Lifetime cable networks.
- In 1986, it acquired Boston’s WCVB-TV and also launched Esquire.
- In 1987, Hearst completed the acquisition of the Houston Chronicle.
- In 1990, they acquired a 20% share of ESPN.
- In 1994, "Hearst and France’s Marie Claire Album introduce the U.S. edition of Marie Claire."
- In 2004, the company acquired Zynx Health Inc.
- In 2011, the company secured the acquisition of over 100 magazines from Lagardère.
- In 2014, Hearst Health was launched.
- In 2016, it acquired CAMP Systems International Inc.
- In 2018, Rodale, Inc. and Fitch Ratings Inc. were added to the Hearst family.
C-level executives of Hearst Corporation are the following:
- Steven R. Swartz - President & CEO.
- William R. Hearst III - Chairman of the Board.
- Frank A. Bennack, Jr. — Executive vice chairman & former CEO.
- Mark E. Aldam — Executive vice president & COO.
- Richard P. Malloch — Executive vice president for business media.
- Mitchell Scherzer — Executive vice president & CFO.
- James M. Asher — Senior vice president & chief development officer.
- Eve Burton — Senior vice president & chief legal officer.
- Hearst has over 360 businesses. Some notable business lines of the company are the following:
- Cable television networks including A&E, HISTORY, Lifetime, and ESPN.
- Fitch Group — a financial service business.
- Hearst Health — a medical service business.
- CAMP Systems International — a SaaS solution service for jets and helicopters.
- iCrossing and KUBRA — both are digital service businesses.
- Complex Networks — a digital entertainment business.
- 34 television stations including WCVB-TV and KCRA-TV.
- Newspapers such as the Houston Chronicle, San Francisco Chronicle and Times Union (Albany, New York).
- Over 300 magazines including Cosmopolitan, ELLE, Men’s Health, and Car and Driver.
- In 2018, Hearst Corporation generated $11.4 billion in revenue across all its businesses.
- In a press release by Mr. Swartz, the CEO noted that the 2018 revenue was a 4% rise from the 2017 revenue, making it eight consecutive years that the company has been profitable at the end of a fiscal year.
Recent Mergers & Acquisitions
- In October 2019, the company acquired the print and digital assets of 7 Hersam Acorn Newspapers — "The Ridgefield Press, The Wilton Bulletin, New Canaan Advertiser, The Darien Times, The Shelton Herald, The Trumbull Times and The Milford Mirror."
- In February 2019, Hearst Magazine — a subsidiary of Hearst Corporation — completed the acquisition of Clevver following the shutdown of Defy Media.
- In January 2019, Mr. Swartz released a press statement reflecting on the general performances of the company and its subsidiaries in the previous year.
- In August 2019, Hearst announced Michael Palmer as the company's chief information security officer.
- In March 2019, Mahendra Durai was announced as the company's chief information officer.
- In October 2019, Hearst announced the acquisition of "the print and digital assets of seven weekly newspaper brands from Hersam Acorn Newspapers, LLC in Fairfield County, Connecticut, including The Ridgefield Press, The Wilton Bulletin, New Canaan Advertiser, The Darien Times, The Shelton Herald, The Trumbull Times and The Milford Mirror."