And the services we’re providing are increasingly software services. But increasingly the acquisitions that we’re making are business information or medical information or financial information. Swartz: Well, you know, I said before that we’re predominantly a television company today. How do you go about now growing and increasing the footprint of the Hearst Corporation? You’re doing well, business-wise and bottom line. Ryssdal: Talk to me for a second about running this company. And so, there is a need for newspapers across the spectrum - from really small to medium sized -to advance digitally, and some have done it, and some are a little behind in that. And the fact is advertisers want more digital solutions and less print. Swartz: Well, I do think a number of newspaper companies, regrettably, back in the day made too many acquisitions got caught in a debt situation. There is a gap though in local journalism in this country and what’s being covered literally at the town level. The Houston Chronicle is a sizable newspaper in a sizable city. Ryssdal: I don’t want to go too far down the newspaper rabbit hole, but the New York Times and the Washington Post are the easy winners. I think unique content - whether it is television content, or newspaper journalism, or magazine journalism - unique content can still cut through. I think the business model is harder, and there’s a premium on uniqueness. It’s better for consumer, I mean, this is an absolutely phenomenal time to be a consumer of media of any kind. Swartz: Well, I think the business model has certainly become more difficult. As you sit at the top of this tower, what’s your approach? How are you thinking about that environment today? When it is fractured, there are various segments of audience that want different things. Ryssdal: So, you’re a guy who gets a vote in the media that American and worldwide consumers have at their disposal. So yeah, we have 20 newspapers and literally hundreds of magazines around the world, and some of the great brands - Cosmopolitan, Harper’s Bazaar, Good Housekeeping. We ended up owning the Chronicle over time there. Well, you know the original business, going back to 1887, was the San Francisco Examiner. Ryssdal: Television yes, but also newspapers and magazines, right? He’s very busy and I must say you get an email back from Bob with lightning speed. Swartz: You know, I find it’s easier to email him. ![]() Ryssdal: How often do you talk to Bob Iger? This is a sideways question. So, that’s also a strong Disney partnership. And then we own 33 local television stations across the country - in Boston, Sacramento, Orlando, Florida -and roughly half of those are ABC. We and Disney co-own the A&E networks - largely the A&E Channel, the History Channel, and the Lifetime Channel - that’s a 50/50 partnership with Disney. We own 20% of ESPN, our fabulous partners at the Walt Disney Company own the rest. Swartz: Well, we’re predominantly a television company. Because, I’ll be honest with you, I was a little surprised. Ryssdal: So, tick them off for me, the other things this company does. But I think after a while the fact that we’re in a lot of other things comes out and actually tends to take people by surprise. Steven Swartz: Well, I usually don’t feel the need to define Hearst as a company, but interestingly enough as the conversation would go on, I think for most people we are thought of as predominantly a newspaper and magazine company, which is fine because we love those businesses. Kai Ryssdal: I don’t know that you probably go to many dinner parties where people don’t know who you are, but if you’re out and about and somebody says, ‘Steve, what do you do? Nice to meet you. The following is an edited transcript of their conversation. ![]() Marketplace host Kai Ryssdal recently sat down with Hearst CEO and president Steven Swartz at Hearst Tower in New York City. Some might be surprised to know that Hearst also has its hand in health care and business information, as well. ![]() Now, Hearst is one of the largest media companies in the world, with holdings in dozens of magazines, newspapers, and television networks. Founded in 1887 by William Randolph Hearst, the Hearst Corporation started as a single newspaper, the San Francisco Examiner.
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