Hearst Corporation Totally Explained

Everything about The Hearst Corporation totally explained

The Hearst Corporation is a privately-held American-based media conglomerate based in the Hearst Tower in New York City, USA. Founded by William Randolph Hearst as an owner of newspapers, the company's holdings now include a wide variety of media. The Hearst family is involved in the ownership and management of the company.
Hearst Corporation is one of the largest diversified communications companies in the world. Its major interests include 15 daily and 31 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle and Albany Times Union; as well as interests in an additional 44 daily and 38 non-daily newspapers owned by MediaNews Group, which include the Denver Post and Salt Lake Tribune;; nearly 200 magazines around the world, including Cosmopolitan and O, The Oprah Magazine; 28 television stations through Hearst-Argyle Television which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime Television, A&E Television Networks, The History Channel and ESPN; as well as business publishing, Internet businesses, television production, newspaper features distribution and real estate.

Trustees of William Randolph Hearst's will (2003)

Under William Randolph Hearst's will, a common board of fourteen trustees--six family members and eight outsiders--administers the Hearst Foundation, the William Randolph Hearst Foundation, and the trust that owns (and selects the 21-member board of) the Hearst Corporation. The foundations shared ownership until tax law changed to prevent this. The present trustees are:

George Randolph Hearst Jr., chairman of Hearst Corporation and president of the Hearst Foundation
Victor F. Ganzi, president and chief executive officer of the Corporation
Frank A. Bennack Jr., vice chairman and longtime former president and chief executive of the Corporation
William Randolph Hearst III, president of the William Randolph Hearst Foundation
John Randolph Hearst Jr., an officer and director of the corporation
Hamilton Benfield Hearst, a director of Hearst Holdings LLC and grandson of Hamilton Fish III, a member of Congress who represented the State of New York.
Virginia Hearst Randt, daughter of late former chairman Randolph Apperson Hearst
Anissa Bouadjakdji Balson, granddaughter of David Whitmire Hearst Sr.
Richard E. Deems, former head of Hearst Magazines, now a consultant
Gilbert C. Maurer, succeeded Deems as head of Hearst Magazines, then preceded Ganzi as executive vice president and chief operating officer under Bennack, now a consultant
Raymond J. Petersen, longtime executive vice president of Hearst Magazines, retains title but largely inactive. Member of the Advertising Hall of Fame.
Mark F. Miller, executive vice president of Hearst Magazines (retired late 2005)
John G. Conomikes, vice president of Corporation, oversees broadcast interests
Harvey L. Lipton, lawyer and former vice president and Secretary of the Corporation

The trust dissolves when all family members alive at the time of Hearst's death in August 1951 have died. Actuarial tables have put this date at 2042 or 2043.

History

In December 2003, Marvel Entertainment acquired Cover Concepts from Hearst Communications, Inc.

Assets

ť Main article: List of assets owned by Hearst Corporation

A non-exhaustive list of its properties and investments includes:
Magazines

CosmoGIRL!

Cosmopolitan

Country Living

Esquire

Good Housekeeping

Harper's Bazaar

House Beautiful

Marie Claire

O at Home

O, The Oprah Magazine

Popular Mechanics

Quick & Simple

Redbook

Seventeen

SmartMoney (with Dow Jones)

Teen

Town & Country

Town & Country TRAVEL

Veranda Newspapers

Albany Times Union

Beaumont Enterprise

Houston Chronicle

Laredo Morning Times

Midland Daily News

San Francisco Chronicle

Seattle Post-Intelligencer

San Antonio Express-News

Midland Reporter-Telegram

Edwardsville Intelligencer

Huron Daily Tribune

Plainview Daily Herald

31% of MediaNews Group's publications outside the San Francisco Bay area MediaNews 10-Q

Weekly Newspapers

Capital Region Weeklies (N.Y.)

Hardin County (Texas) News

Jasper Newsboy, Jasper (Texas)

Beaumont (Texas) Journal

Mid County (Texas) Chronicle

Orange County (Texas) News

Marlette (Mich.) Leader

Vassar (Mich.) Pioneer Times Television and Cable (investments)

A&E Television Networks (Shared with Disney and NBC Universal)

ESPN (owns 20%; shared with Disney, which owns the other 80%)

Hearst-Argyle Television (owner of 26 local television stations; also manages three local television and two local radio stations)

Lifetime Entertainment Services (joint venture with The Walt Disney Company)

New England Cable News (owns 50%; shared with the Comcast Corporation) Internet

UGO

40% of Kaango, LLC MediaNews 10-Q

Answerology

Kaboodle

eCrush

Real Age Other

King Features Syndicate

Antitrust allegations

On July 14, 2006, San Francisco businessman and real estate investor Clint Reilly filed a lawsuit against Hearst Corp. (owner of the San Francisco Chronicle) and MediaNews Group (owner of the San Jose Mercury News, Contra Costa Times, Marin Independent Journal, Oakland Tribune and all other paid-circulation dailies in the Bay Area), alleging that the two companies have been conspiring to control advertising rates, a violation of antitrust laws.
In November 2006, Reilly's attorney presented to U.S. District Judge Susan Illston a letter from Hearst senior vice president James Asher to MediaNews President Jody Lodovic that said the two companies agreed to "offer national advertising and internet advertising sales for their San Francisco Bay area newspapers on a joint basis, and to consolidate the San Francisco Bay Area distribution networks of such newspapers ..." Illston, suggesting she'd been misled by the companies when they said they hadn't been collaborating, issued a 14-page ruling forbidding Hearst and MediaNews from working together on national advertising sales or distribution.
On December 21, 2006, the San Francisco Bay Guardian and nonprofit Media Alliance filed suit to make the details of Reilly's lawsuit -- and MediaNews and the Chronicle's response -- public. As a result of the filing, many documents in the case were voluntarily disclosed by the defendants. The judge allowed redacted versions of two more documents to be released. She kept 17 others under seal. One of the documents unsealed was the deposition of Hearst's Asher, who says that as of September 2006, his company had recorded cumulative losses of $330 million on its investment in the Chronicle, which it acquired in mid-2000. He said Hearst proposed selling the Chronicle to MediaNews, but MediaNews didn't offer enough money. Asher also said Hearst and MediaNews have discussed working together for years. Although the trial was scheduled to start Monday, April 30 2007 in U.S. District Court in San Francisco, the parties announced on April 25 2007 that a settlement had been reached.

Further Information

Get more info on 'Hearst Corporation'.

External Link Exchanges

Do you know how hard it is to get a link from a large encyclopaedia? Well we're different and will prove it. To get a link from us just add the following HTML to your site on a relevant page:

<a href="http://hearst_corporation.totallyexplained.com">Hearst Corporation Totally Explained</a>

Then simply click through this link from your web page. Our crawlers will verify your link, extract the title of your web page and instantly add a link back to it. If you like you can remove the words Totally Explained and embed the link in article text.
As long as your link remains in place, we'll keep our link to you right here. Please play fair - our crawlers are watching. Your site must be closely related to this one's topic. Any kind of spamming, dubious practises or removing the link will result in your link from us being dropped and, potentially, your whole site being banned.