Hearst completes acquisition of Rodale magazine and book businesses

January 9, 2018 — Fusion DigiNet

HearstThe publisher Hearst has finalised the acquisition of global health and wellness content company Rodale’s magazine and book businesses, announced in October 2017. The terms of the transaction were not disclosed.

With 93 editions in 64 countries, Rodale is credited with having launched the organic movement in the U.S. in 1942, and publishes many established health and wellness lifestyle brands, including Men’s Health, Women’s Health, Prevention, Rodale’s Organic Life, Runner’s World and Bicycling. Rodale Books is known for conversation-changing titles including Former Vice President Al Gore’s An Inconvenient Truth, Starbucks CEO Howard Schultz’s Onward and Dave Asprey’s The Bulletproof Diet. Upon completion of the acquisition, Rodale’s multi-platform content business will be managed by Hearst Magazines, a unit of Hearst with more than 300 editions and websites around the world.

Hearst Magazines President David Carey said, “Maria Rodale has grown her family’s business into a peerless authority that reaches an enormous audience. Hearst and Rodale are already publishing partners around the world, including the U.K., the Netherlands and Japan, and we’ve seen first-hand how the content resonates. We are pleased to add them and all of Rodale’s brands to our vibrant and varied global portfolio, providing readers with dependable information and offering marketers unbeatable scale and a trustworthy environment in the increasingly important health and wellness space.”

United States, New York, NY & Emmaus, PA

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Hearst Corporation acquires WVTM-TV (NBC) in Birmingham, Ala. & WJCL-TV (ABC) in Savannah, Ga.

December 23, 2014 — Fusion DigiNet

Hearst CorpHearst Corporation has acquired Birmingham, Ala., NBC affiliate WVTM-TV, Channel 13, from Media General, Inc. and Savannah, Ga., ABC affiliate WJCL-TV, from LIN Media LLC. The announcement was made by Steven R. Swartz, president and CEO, Hearst Corporation, and Jordan Wertlieb, president, Hearst Television Inc. The terms of the transactions were not disclosed.

Birmingham is the 44th largest television market and Savannah is the 92nd largest.

Hearst also announced new management for the stations. Henry “Hank” Price, a highly recognised broadcast industry veteran who has served since 2000 as president and general manager of Hearst’s WXII-TV, the NBC affiliate in the Greensboro/Winston-Salem, N.C., TV market, will move to WVTM in the same role. His successor at WXII-TV will be announced at a later date. Timothy J. (Tim) Morrissey, most recently president and general manager of WCNC-TV, the Gannett-owned NBC affiliate in Charlotte, N.C., will become president and general manager of WJCL; the move marks a return to Hearst for Morrissey, who in the mid-1980s served as news director at Hearst’s WISN-TV in Milwaukee.

” Jordan Wertlieb, president, Hearst Television Inc., said. “Television stations with strong news brands attract the largest audiences. A dedication to quality local programming and community service will be our focus as we grow our audience in the region. Hank and Tim exemplify that dedication.”

USA, New York

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Hearst Corporation to increase equity interest in Fitch Group to 80 percent 

December 12, 2014 — Fusion DigiNet

Hearst CorpHearst Corporation is to purchase an additional 30 percent interest in global ratings agency Fitch Group from Fimalac S.A., bringing Hearst’s equity interest to 80 percent. Fimalac will retain a 20 percent equity interest in Fitch Group. The transaction is valued at $1.965 billion.

FitchRatingsHearst acquired its original interest in Fitch Group in March 2006 and had most recently held 50 percent of the company. The transaction is expected to close in the first quarter of 2015 following receipt of all necessary regulatory approvals.

“We believe the credit rating, financial information and risk management services Fitch provides to the global financial community are critical in today’s economy,” said Steven R. Swartz, president and CEO of Hearst Corporation. “Strategically, Hearst continues to diversify into data and information-based companies while growing its world-class media assets. We are excited to continue to work with Fimalac and Marc Ladreit de Lacharrière to make Fitch Group an even bigger success.”

“Since the beginning of our relationship with Fitch, it has seemed to me that the company fits perfectly into the profile of businesses in which Hearst should seek to expand,” said Frank A. Bennack, Jr., former Hearst CEO and current executive vice chairman of Hearst Corporation. “The record of advances in the business over that period shows that excellent management is in place, our partners at Fimalac are aligned with us in strategy for the future and the diversification from our highly-valued traditional portfolio is proving to be rewarding. Stepping up from 50 percent to 80 percent makes great sense and we’re all excited.”

USA, New York

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