In a memo to staff and other members of the media, Hearst’s CEO Steven R. Swartz detailed just how successful the publishing company was in 2017. While revenue itself was flat at $10.8 billion, the business as a whole was profitable for the seventh consecutive year due largely in part to investments made in companies related to business data. (Adweek)
As to the company’s more traditional media holdings, Swartz said the acquisition this year of Rodale, publisher of magazines such as Men’s Health, will “give our magazine business a shot in the arm.” He also noted ratings improvement at A&E and strides toward an OTT extension by the company’s other part-owned cable TV empire, ESPN. (Deadline)
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