Hearst

Part
01
of three
Part
01

Hearst: Overview

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

Leadership

C-level executives of Hearst Corporation are the following:

Popular Brands

Financial Insight

  • 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.

Recent News

  • 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."
Part
02
of three
Part
02

Hearst: Business Units

Hearst is a global diversified media, information, and services company with its headquarters in New York. The company has over 360 businesses and is one of the largest diversified communications companies globally. Below is a detailed overview of each of the core business units of Hearst.

About Hearst

  • Hearst is a global, diversified media, information and services company with its headquarters in New York. The company has over 360 businesses and one of the largest diversified communications companies globally.
  • Hearst has interest in broadcasting, print, and the news media.
  • The company's Principal Operating Units are Hearst Broadcasting, Hearst Magazines, Hearst Newspapers, Hearst Business Media, Hearst Entertainment & Syndication, and Hearst Interactive Media.

Hearst Magazines

Hearst Broadcasting

Hearst Entertainment and Syndication

Hearst Interactive Media

  • This unit operates partnerships in Internet-based services like Hire.com and iVillage.

Business Media unit

  • This unit mainly handles business-to-business publications and databases and on-line services such as a used car guide and a collision database.
  • Hearst's used car guide is called the Black Book while Hearst Autos offers insights into the auto industry.

Research Strategy

From our research, a report that gave a full overview of Hearst was identified that included its historical background, business units, and key leaders, among other details. In addition, the company's website has all information regarding its business units. From our research, we did not encounter any direct business line or investment in the CBD or fitness / performance spaces.



Part
03
of three
Part
03

Hearst: Meredith Ashley

Even though we were not able to provide an in-depth overview of Mr. Ashley's statements on his business philosophies nor statements that he has made on CBD / CBD products in the past 6-12 months, we were able to find interesting data related to his education, his.work history/experience, and his work accomplishments.

Education

Work History/Experience

  • Currently, Mr. Ashley is the Director, Business Development at Hearst Corporation.
  • He has worked at Hearst from August 2012 till now which makes it 7 years 2 months now.
  • Before working at Hearst, he was the Director, Licensing at Brandgenuity which is an independent brand licensing agency headquartered in New York for approximately two and half years [Mar 2010 – Aug 2012].
  • Between August 2003 and March 2010, Mr. Ashley was again the Director, Licensing for ESPN Consumer Products.
  • Mr. Ashley was also a Sr. Marketing Manager for America Online through Jun 2000 to May 2003.
  • In this role, he was in charge of directing marketing and promotional efforts on behalf of AOL Sports for top partners such as NBA, NFL, Turner Sports, Sports Illustrated, MLS.
  • He also helped Mattel launch multiple product lines while overseeing the NBA license for action figures when he worked there as a product manager between Aug 1998 and Mar 2000.
  • Although not stated in his LinkedIn profile, Mr. Ashley worked in the White House Press Office for a month.
  • He was a corporate sales executive in New Jersey Nets for two years, from 1993 to 1995.

Work Accomplishments

  • Mr. Ashley has worked as a senior-level brand development executive for over 15 years.
  • He not only has experience but also an exceptional track record of building blue-chip brands, launching new brands, and creating lucrative business partnerships with strong expertise in marketing, licensing, and retail business development.
  • He has a keen understanding of how to develop, position and market products.
  • While working at Hearst, he has been able to reach or exceeded every year's financial forecasts/P&L through launching new programs.
  • Additionally, he has led multi-faceted teams including marketing, retail development, and creative services to create consistent marketing campaigns across platforms such as print, digital, social media and PR.
  • At Brandgenuity, he oversaw hardlines licensing for top clients including Pella, Church & Dwight and HISTORY Channel.
  • He also helped to develop, execute and launch the garage door line exclusively at Lowe's, successfully extended Arm & Hammer brand into kitchen gloves and wipes.
  • He launched the first brand extension for Kaboom Moisture removal, extending the brand into a new product category.
  • At ESPN, Mr. Ashley was successful in building a multi-million dollar toy business with leading partners such as Mattel, Fisher-Price, Moose Mountain, Jakks Pacific, and Zizzle.
  • He sold over 1 million board games and 1 million toys!
  • While at America Online, he created and ran AOL's first intra-company promotion at the NBA All-Star game with Sports Illustrated and Turner Sports which resulted in increased online traffic and record click thru's. (Source 1)
  • In general, Mr. Ashley is an award-winning licensing executive with skills in advertising, consumer products, distribution, e-commerce, entertainment, licensing, marketing management, planning, product development, and retail sales among others.

Your Research Team Applied The Following Strategy

To begin our research, we directly searched for Meredith Ashley's social media pages such as Facebook, Twitter, and LinkedIn to gather insights on his business philosophies and interests based on his social media posts. Our focus was to identify his posts that we could use as pointers to his business philosophies. We were also hoping to find whether he shared links to his interviews, and also find whether he posted the awards that he has won, and projects that he has led. Unfortunately, this was not possible as he doe not have any profile on social media. Although we were only able to find Mr. Ashley's LinkedIn which was very useful in providing his education and work backgrounds, we were unable to find more about his business philosophies or statements on CBD.

We decided to comb through his company's website and annual reports. This strategy failed as there were no mention of him on the company's website, annual reports, and press releases. Next, we decided to broaden my search and look for any mentions of Mr. Ashley on business databases like Bloomberg, LinkedIn, Crunchbase, ZoomInfo, among others. The idea was to find relevant information regarding his work ethics and business philosophies or any pertinent information which we could use as pointers to deep dive into life. Unfortunately, this was also futile.

Finally, we searched for interviews or articles written on him. We were not able to find any articles or interviews on him. We searched through media sites like The Voice of the People, Holaconnect, Forbes, and Bloomberg Business among others. However, there was no mention of Meredith Ashley in any of the media sources. Then, we went ahead and expanded our search beyond the required 6-12 months period in hopes of finding old news articles and interviews which we could use to provide the requested information. However, this strategy also failed as we could not find any relevant information on him. We were therefore not able to provide more information beyond what was already provided in his LinkedIn and the other one source because of the lack of publicly available data on this individual.
Sources
Sources

From Part 02
Quotes
  • "It has interests in print, broadcasting, and the news media, including newspapers, magazines, book and business publishing, television and radio broadcasting, cable network programming, newspaper features distribution, television production and distribution, and electronic publishing. "
Quotes
  • "Hearst is a leading global, diversified media, information and services company with more than 360 businesses. Its major interests include ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses"