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Hearst Corporation

Information about Hearst Corporation and its Magazine Holdings
by

Jason Bisnoff

on 17 October 2012

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Transcript of Hearst Corporation

George Hearst acquired the San Francisco Examiner in 1880

7 years later, 23-year-old William Randolph Hearst took over paper

1895, Hearst acquired the New York Journal
During this time, Hearst worked at dramatically improving his paper’s appearance and quality of writing staff

By 1920’s, Hearst owned chain of newspapers throughout the country.

1 in 4 Americans were Hearst readers.

Started Hearst magazines in 1903

Began buying radio stations in 1920’s and started one of the first television stations in Baltimore WBAL-TV History of Hearst Corp. Information about Hearst Corporation and its Magazine Holdings Hearst Corporation American newspaper publisher who created the largest chain of newspapers in the United States.
Hearst was born in 1863, in San Francisco. He attended St. Paul’s Preparatory school, in New Hampshire, at the age of 16. From there he went on to Harvard University where he began to show his passion for journalism.

He was eventually expelled from Harvard for bad behavior, such as throwing beer parties in Harvard Square. Around this time his father took over the San Francisco Examiner as the result of a gambling venture.

Hearst persuaded his father to let him run the paper. He created a powerful team of writers including, Mark Twain and Jack London. They published stories about corruption, particularly municipal and financial.

In 1895 Hearst bought the failing New York Morning Journal. He made it successful by lowering the cost of the newspaper, using catchy headlines and publishing sensationalized stories. William Randolph Hearst From there he opened newspapers in Los Angeles, Chicago and Boston. By the 1920s Hearst owned 28 newspapers including: the Los Angeles Examiner, Boston American, Atlanta Georgian and the Washington Times.

Eventually he expanded his empire to magazine and book publishing. Several of the magazines he published are still in circulation today. These include, Cosmopolitan, Harper’s Bazaar and Good Housekeeping.

Hearst lost control of his corporation when the Great Depression hit. He wasn’t able to deal with the debts he faced, and in 1937 Hearst Corporation was forced to undergo a court-mandated reorganization. Hearst became a regular employee and surrendered most of his former power. Outside managers were brought in and his assets were liquidated.

In 1951, Hearst died of a heart attack at the age of 88. Today, the Hearst Corporation is a large media conglomerate that is privately held. The company is based in New York City. William Randolph Hearst (cont’d.) Hearst leads many companies in being one of the largest and diverse communication companies worldwide

Hearst’s most popular media include over 15 daily newspapers, 38 weekly newspapers, more than 300 magazines throughout the world, 29 television stations.

As the Hearst Corporation continues to grow, the company reaches for a constant concept of new ideas and new ways to change the world we live in. “Try to be conspicuously accurate in everything, pictures as well as text. Truth is not only stranger than fiction, it is more interesting.”-William Randolph Hearst

Some of the companies larges holdings include: ESPN inc., A&E Networks, eCrush.com, Answerology.com, The Houston Chronicle,  The Times Union, Cosmopolitan, Esquire, Harper’s Bazaar, and O Magazine Hearst Corporation Today Hearst Magazines, is a unit of Hearst Corp., it is one of the world’s largest publishers of monthly magazines with 20 U.S. titles and more than 300 international editions. The company also publishes 24 magazines in the United Kingdom through Hearst Magazines UK, completely owned by them.

Cosmopolitan is currently an international magazine for women. It began in 1886 with its launch as a family magazine. After several changes, it finally became a women-based magazine in the late 1960s. Cosmopolitan is published by the Hearst Corporation discussing stories on relationships, sex, health, careers, self-improvement, celebrities, fashion and beauty. With its astonishing 63 international editions, Cosmo is printed in 32 languages and distributed in more than 100 countries.

 Esquire Magazine is currently a Hearst published magazine for men. This magazine was founded in 1932 as it flourished through the Great Depression with the help of founders and editors, Arnold Gingrich, David A Smart, and Henry L. Jackson. Esquire concentrates on influencing young and old men to be inspired by its fashion articles. Magazine Holdings O, The Oprah Magazine, sometimes simply abbreviated to O, is a monthly magazine founded by Oprah Winfrey and Hearst Corporation. The magazine aims to inspire readers to live their best life by presenting information, advice, and tools focused on self-empowerment. Dedicated to helping readers embrace more of who they really are, O seeks to encourage growth and discovery through charged stories and lessons.

Harper’s Bazaar is an American women's fashion magazine, first published in 1867. Harper’s Bazaar is published by Hearst and, as a magazine, considers itself to be the style resource for “women who are the first to buy the best, from casual to couture.” Aimed at members of the upper-middle and upper classes, Bazaar assembles photographers, artists, designers and writers to deliver a “sophisticated” perspective into the world of fashion, beauty and popular culture on a monthly basis.

Seventeen is an American magazine for teenagers. It was the first teen magazine to be established in the United States. This magazine is mostly for young girls and women from the ages of 12–19. It began as a publication geared towards inspiring teen girls to become role models in work and citizenship. Soon after its debut, Seventeen took a more fashion and romance-oriented approach in presenting their material, while still maintaining their model of promoting self-confidence in young women. Magazine Holdings (cont’d.) As of June 2012 Hearst Corp. has a net sales of $3.85 Billion
According to Lexis Nexis, The Hearst Corporation has had 68 noted mergers and acquisitions announced since 1992.

In 2011, Hearst absorbed more than 100 magazine titles from the Lagardere group for more than $700 million and became a challenger of Time Inc. ahead of Conde Nast.

Debi Chirichella is the Chief Financial Officer of hearst’s Magazine Division
Hearst Magazines currently employs 18,300 workers. Finances In the 2012 National Magazine Awards Hearst Corp. received 10 nominations and won three awards

GENERAL EXCELLENCE - Lifestyle Magazines
Honors city and regional publications as well as food, travel and shelter magazines
House Beautiful
Newell Turner, Editor in Chief
March, June and July/August Issues

GENERAL EXCELLENCE - Women’s Magazines
Honors health, fitness and parenting publications as well as fashion, service and lifestyle magazines
O, The Oprah Magazine
Oprah Winfrey, Founder and Editorial Director
Susan Casey, Editor in Chief
April, May and November Issues

GENERAL EXCELLENCE - Women’s Magazines
Honors health, fitness and parenting publications as well as fashion, service and lifestyle magazines
O, The Oprah Magazine
Oprah Winfrey, Founder and Editorial Director
Susan Casey, Editor in Chief
April, May and November Issues Awards In August 2011, Diana Wang began her 7th unpaid internship at Harper’s Bazaar and a month later she was suing them.

On Feb. 1, the law firm Outten & Golden filed a class-action lawsuit against the Hearst Corp, which owns Harper’s on behalf of Wang and any other unpaid and underpaid intern who worked at the company over the past 6 years.

The lawsuit alleges that, among other things, Hearst violated federal and state labor laws by having Wang work as many as 55 hours a week. Controversy's
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