Hearst Communications facts for kids

Quick facts for kids
Hearst Communications, Inc.

Hearst Tower in Midtown Manhattan, September 2006
Formerly	Hearst Corporation (1887–2016)
Type	Private
Industry	Media
Founded	March 4, 1887; 138 years ago (1887-03-04) San Francisco, California, U.S.
Founder	William Randolph Hearst
Headquarters	Hearst Tower 300 W. 57th Street New York, NY 10019 U.S.
Area served	Worldwide
Key people	William Randolph Hearst III (chairman) Frank A. Bennack Jr. (executive vice chairman) Steve Swartz (president and CEO)
Products	Books Magazines Newspapers Publications Television
Revenue	US$11.9 billion (2022)
Owner	Hearst family
Number of employees	20,000 (2016)
Divisions	Hearst Television Hearst Magazines Hearst Ventures Hearst Business Media Hearst Entertainment & Syndication Hearst Newspapers
Subsidiaries	A+E Networks (50%) ESPN Inc. (20%) Fitch Ratings First Databank King Features Syndicate NorthSouth Productions (50%)

Hearst Communications, Inc. is a huge American company. It's often just called Hearst. This company owns many different types of media. It's based in New York City at the Hearst Tower.

Hearst owns lots of newspapers and magazines. Some famous ones are the San Francisco Chronicle and Cosmopolitan. They also own TV channels and stations. For example, they own half of A&E Networks. They also own 20% of ESPN, which is a big sports channel. They share ownership of these with The Walt Disney Company.

The company also has businesses that provide information. These include Fitch Ratings and First Databank.

A man named William Randolph Hearst started the company. He was famous for his newspapers. His family still helps run the company today.

Hearst's Beginnings: A Media Empire Starts

Early Years and Growth

In 1880, George Hearst bought a newspaper called the San Francisco Daily Examiner. He was a mining businessman and a U.S. senator. In 1887, he gave the newspaper to his son, William Randolph Hearst. This is when the Hearst Corporation officially began.

William Randolph Hearst was very good at growing his newspaper business. He increased the number of readers from 15,000 to over 20 million. He bought and started many other newspapers. These included the New York Journal in 1895. He also launched the Los Angeles Examiner in 1903.

In 1903, Hearst started Motor magazine. This was the first magazine for his company. He later bought Cosmopolitan in 1905. Then he added Good Housekeeping in 1911.

Hearst also got into publishing books in 1913. He even started making films in the mid-1910s. He created one of the first animation studios. This studio turned characters from his newspaper comics into movie stars.

Becoming a Global Media Leader

An old ad for Hearst newspapers, showing their wide reach.

In the 1920s and 1930s, Hearst was a giant in the media world. It owned many magazines and newspapers in big cities. Hearst also started buying radio stations. These radio stations worked with his newspapers.

Hearst faced some money problems in the early 1920s. He was spending a lot building Hearst Castle in San Simeon. He was also putting money into movie production. This led to some changes, like combining magazines.

Even with challenges, Hearst kept growing. In 1921, they bought the Detroit Times and the Seattle Post-Intelligencer. They continued buying more newspapers through the 1920s. In 1924, Hearst launched a tabloid newspaper in New York City. It was called New York Daily Mirror.

Besides print and radio, Hearst also made movies. They created Cosmopolitan Pictures in the early 1920s. They partnered with MGM to distribute their films. In 1929, Hearst and MGM also started making newsreels together.

Adapting to New Times

Changes During Tough Economic Times

The Great Depression in the 1930s was hard for Hearst. The company had to sell some parts of its business. For example, its book publishing division was sold in 1931. Some newspapers were also sold or merged.

Hearst had to combine some of its morning and afternoon papers. In Chicago, the Herald-Examiner and American became the Herald-American. This also happened in New York.

Afternoon newspapers were very popular before television. They had stock market news and sports results. They also reported on World War II. But after the war, television news grew quickly. More people also moved to suburbs. This made afternoon papers less popular.

Entering Television and New Ventures

In 1947, Hearst started producing early television news. It was for the DuMont Television Network. In 1948, Hearst became one of the first owners of a TV station. This was WBAL-TV in Baltimore.

Over time, Hearst sold some newspapers that were losing money. In 1956, they sold the Chicago American. They also sold papers in Pittsburgh and Detroit in 1960.

In 1958, Hearst's news service merged with another one. This created United Press International. This was to compete with other big news agencies. In 1959, Hearst also bought a paperback book publisher called Avon Books.

In the 1960s, Hearst started making agreements with other newspapers. This helped them share costs and stay in business. For example, in San Francisco, the Examiner joined with the San Francisco Chronicle.

Modern Hearst: Acquisitions and Digital Focus

Expanding and Shifting Focus

Hearst continued to grow and change. In 1978, they bought Arbor House for hardcover books. They also bought William Morrow and Company in 1981.

In 1982, Hearst sold the Boston Herald American. It was bought by Rupert Murdoch's company. In 1986, Hearst bought the Houston Chronicle. They also closed the Baltimore News-American.

In 1990, Hearst bought more of ESPN. They now own 20% of this popular sports network. This investment has been very successful for Hearst.

In 1997, Hearst's broadcasting division merged with another company. This created Hearst-Argyle Television. This company owns many local TV stations.

In 1999, Hearst sold its Avon and Morrow book publishing businesses. In 2000, Hearst made a big change in San Francisco. They sold their flagship paper, the San Francisco Examiner. Then they bought the San Francisco Chronicle, which was a competing paper.

Digital Growth and Recent Acquisitions

Hearst has also focused on digital media. In 2010, they bought a digital marketing company called iCrossing. In 2011, Hearst bought over 100 magazine titles from another company. This made them a major player in the magazine world.

In 2014, Hearst bought a part of AwesomenessTV. This company creates content for young people online. In 2017, Hearst bought a majority share in Litton Entertainment. This company produces syndicated TV shows.

Hearst continued to buy more newspapers in 2017. These included the New Haven Register and others. They also bought magazine and book businesses from Rodale, Inc. in 2017 and 2018.

Recently, Hearst has kept expanding. In 2023, they bought a TV station in Florida. They also bought the Journal Inquirer newspaper. Later in 2023, they bought San Antonio Magazine. In November 2023, Hearst acquired all print and digital operations owned by RJ Media Group. In December 2023, Hearst bought Puzzmo, a puzzle games website. In April 2024, Hearst acquired more Texas magazines.

Leaders of Hearst Communications

Hearst has had several important leaders over the years.

• George Hearst started the newspaper business in 1880.
• His son, William Randolph Hearst, took over in 1887. He was editor and publisher. He led the company until he died in 1951.
• Richard E. Berlin became CEO in 1951. He retired in 1973.
• Frank Massi was president from 1973 to 1975. He helped reorganize the company's finances.
• John R. Miller was CEO from 1975 to 1979.
• Frank Bennack served as CEO and president from 1979 to 2002. He came back as CEO from 2008 to 2013. He is now an executive vice chairman.
• Victor F. Ganzi was president and CEO from 2002 to 2008.
• Steven Swartz has been president since 2012 and CEO since 2013.

What Hearst Owns Today

Hearst owns many different companies and investments. Here are some of them:

Magazines

Newspapers

(listed by state, then by name)

Broadcasting

• A+E Networks (Hearst owns 50% with The Walt Disney Company)
• ESPN, Inc. (Hearst owns 20% with Disney)
  • CTV Specialty Television (Hearst owns 4% through ESPN; with Bell Media)
• Hearst Television (owns 100%; operates 29 local TV stations and two radio stations)
• Hearst Media Production Group (owns 100%; creates TV shows, especially educational ones)

Internet Businesses

Other Businesses

How Hearst is Managed

William Randolph Hearst's will set up a special way for the company to be managed. A group of thirteen trustees oversees the Hearst Foundation and the trust that owns Hearst Communications. Five of these trustees are family members, and eight are not.

This trust will continue until all family members who were alive when William Randolph Hearst died in 1951 have passed away.

Family Members on the Board

• Anissa Boudjakdji Balson
• Lisa Hearst Hagerman
• George Randolph Hearst III
• William Randolph Hearst III (chairman of the board)
• Virginia Hearst Randt

Non-Family Members on the Board

• James M. Asher
• David J. Barrett
• Frank A. Bennack Jr.
• John G. Conomikes
• Gilbert C. Maurer
• Mark F. Miller
• Mitchell Scherzer
• Steven R. Swartz (president and CEO)

Images for kids

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  An old ad for Hearst newspapers, showing their wide reach.