Hearst Communications

Hearst Communications logo.png
Hearst Communications Inc., often referred to simply as Hearst, is an American mass media and business information conglomerate based in New York City, New York.

Hearst owns a wide variety of newspapers, magazines, television channels, and television stations, including the San Francisco Chronicle, the Houston Chronicle, Cosmopolitan, Esquire, 50% of broadcasting firm A&E Networks, and 20% of the sports broadcaster ESPN—the last two both co-owned with The Walt Disney Company.

Despite being better known for the above media holdings, Hearst makes most of its profits in the business information section, where it owns companies including First Databank, Homecare Homebase, MOTOR Information Systems, 80% of Fitch Ratings, and others.

The Hearst company is based in the Hearst Tower in Midtown Manhattan, New York City. The company was founded by William Randolph Hearst as an owner of newspapers, and the Hearst family remains involved in its ownership and management.

Under William Randolph Hearst's will, a common board of thirteen trustees (its composition fixed at five family members and eight outsiders) administers the Hearst Foundation, the William Randolph Hearst Foundation, and the trust that owns (and selects the 24-member board of) the Hearst Corporation (immediate parent of Hearst Communications which shares the same officers). The foundations shared ownership until tax law changed to prevent this. As of 2017, the trustees are:

The trust dissolves when all family members alive at the time of Hearst's death in August 1951 have died.

This page was last edited on 22 February 2018, at 21:38.
Reference: https://en.wikipedia.org/wiki/Hearst_Corporation under CC BY-SA license.

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