Hearst Corporation SuccessStory

Hearst is a multinational conglomerate that is based in America. Established as a company that published newspapers, over the years the organization has diversified into a number of other fields in the media arena. Owned and managed by the Hearst family, it is one of the largest communication companies in the country with 15 daily newspapers, 30 weekly newspapers and more than 300 magazines to its credit. It also owns cable networks, television production, real estate business, newspaper feature distribution, digital distribution and business publishing.

History

In the year 1880, George Hearst, who was an owner of a mining business and also a senator in the US government, decided to venture into the publishing business and bought San Francisco Daily Examiner. Later he handed over the newspaper to his son William Randolph Hearst. William went on to develop the business by acquiring latest publishing tools. With his efforts the newspaper was a huge hit. He went on to buy He went on to buy New York Journal in 1895. He experimented in the different aspects of newspaper publishing and emerged as a major competitor to the established newspapers companies like Associated Press and United Press. The company went on to publishing magazines in 1903 and launched an animation studio in 1910. The company also collaborated with the movie studio, Metro Goldwyn Mayer to produce newsreels that consisted of news from around the world. Hearst also became the first ever owner of a television studio in 1948 when the company bought WBAL TV, based in Baltimore

Sales and Acquisitions