Hearst Communications, Inc.

What does Hearst own?
Hearst owns more than 25 US magazine brands including Cosmopolitan, Esquire, Harper's Bazaar, Good Housekeeping, Car and Driver, and Popular Mechanics; 35 local television stations in 26 US markets; A+E Global Media (A&E, History, Lifetime, becoming wholly owned in 2025); Fitch Group credit ratings; newspapers including the San Francisco Chronicle, Houston Chronicle, Austin American-Statesman, and Dallas Morning News; an 18% stake in ESPN Inc.; and business media companies including CAMP Systems and QGenda.

Is Hearst publicly traded?
No. Hearst Communications, Inc. is privately held through a trust structure established by founder William Randolph Hearst. The company has never been publicly traded as a standalone entity. CEO Steve Swartz publishes an annual letter with revenue updates, reporting $13.5 billion in 2025 revenue.

What is Hearst's revenue?
Hearst reported record revenue of $13.5 billion in 2025, up 3% year over year, with record profit driven by Fitch Group earnings. Business Media accounted for 60% of total profit in 2025, up from 50% in 2024 and under 10% fifteen years ago.

Who founded Hearst?
William Randolph Hearst took control of the San Francisco Examiner in 1887 at age 23, beginning the media empire that became Hearst Communications. He built his empire over the following decades through newspaper acquisitions, magazine purchases, radio stations, and film production.

Who is the CEO of Hearst?
Steve Swartz is President and CEO of Hearst Communications, a position he has held since 2012. William Randolph Hearst III, the founder's grandson, serves as Chairman. Frank A. Bennack Jr. serves as Executive Vice Chairman.

Is Hearst buying A+E Networks?
In August 2025, Hearst announced an agreement to acquire The Walt Disney Company's 50% interest in A+E Global Media for approximately $1.2 billion in cash. The acquisition is expected to close in September 2025, making A+E a wholly owned Hearst business. A+E reaches more than 414 million households across 200 territories in 40 languages.

Does Hearst own ESPN?
Hearst owns an 18% stake in ESPN Inc. The majority of ESPN is owned by The Walt Disney Company. Hearst's 18% stake is separate from its A+E Global Media joint venture with Disney.

Where is Hearst headquartered?
Hearst Communications is headquartered in the Hearst Tower in New York City. The tower is a 46-story glass skyscraper completed in 2006, built atop the original 1928 Hearst Magazine Building in midtown Manhattan.

William Randolph Hearst began his media career in 1887 when he took control of the San Francisco Examiner, a newspaper his father George Hearst had acquired to support his political career. The younger Hearst was 23 years old.

Hearst modeled his editorial approach on Joseph Pulitzer's New York World, investing heavily in staff, design, and sensational popular coverage. In 1895, he purchased the New York Morning Journal and launched a direct circulation war with Pulitzer. The competition between the two publishers produced what historians call yellow journalism, sensationalized coverage designed to sell newspapers rather than inform readers. Critics have argued that Hearst's newspapers contributed to public support for the Spanish-American War of 1898 through inflammatory coverage of events in Cuba.

Magazine publishing entered the Hearst portfolio with the acquisition of Cosmopolitan in 1905 for $400,000. Cosmopolitan had been founded in 1886 as a general interest family magazine. Hearst expanded the title and made it a prominent popular publication of the early 20th century. The magazine was reinvented as a women's sexuality and lifestyle title by editor Helen Gurley Brown starting in 1965, a transformation that made it one of the best-selling women's magazines in the world.

Harper's Bazaar, founded in 1867 as the oldest American fashion magazine, was acquired by Hearst in 1913. Good Housekeeping had been acquired in 1911. Esquire was launched in 1933 in partnership with founding editor Arnold Gingrich.

At its peak in the mid-20th century, the Hearst Corporation operated 28 newspapers, 18 magazines, a film company, two wire services, and 11 radio stations. Personal extravagance, including the construction of Hearst Castle in San Simeon, California, and acquisition of European art and antiques at enormous cost, strained the company's finances. During World War II, Hearst was forced to sell properties and cede financial control to a management committee. He died in 1951.

The company passed to a trust controlled by Hearst's five sons and subsequently to professional management. Frank Bennack led the company for extended periods from 1979 to 2002 and from 2008 to 2012, overseeing significant portfolio rationalization and the shift toward television and digital assets. Steve Swartz has served as CEO since 2012.

In the 1990s and 2000s, Hearst exited most of its newspaper properties. In 2025, Hearst acquired two storied Texas newspapers: the Austin American-Statesman (founded 1871) and the Dallas Morning News (founded 1885). The acquisitions expanded Hearst's newspaper portfolio, which already included the San Francisco Chronicle and Houston Chronicle.

The strategic shift toward Business Media accelerated under Swartz's leadership. Fifteen years ago, Business Media accounted for under 10% of total profit. By 2024, it exceeded 50% for the first time, and in 2025 it reached 60%. This transformation was driven by acquisitions and strong organic growth in mission-critical data and niche software platforms. Key acquisitions included Fitch Group, CAMP Systems (aviation data), QGenda (hospital software), and Bring a Trailer (classic car auction site).

In August 2025, Hearst announced the acquisition of Disney's 50% stake in A+E Global Media for approximately $1.2 billion, making it a wholly owned subsidiary. The transaction marked a significant consolidation of Hearst's entertainment portfolio.

The Hearst Corporation's most significant historical controversy relates to its founder's editorial practices. William Randolph Hearst's use of sensationalized journalism to drive circulation, and the alleged role of his newspapers in stoking public support for the Spanish-American War, remain subjects of historical debate. Hearst himself was the subject of Orson Welles's 1941 film Citizen Kane, widely considered one of the greatest films ever made, which depicted a fictionalized version of his life with unflattering characterization.

The modern Hearst Corporation has faced scrutiny primarily related to labor relations at its newspaper properties and the competitive practices of its business information segment. The company has settled labor disputes at the San Francisco Chronicle and Houston Chronicle related to restructuring and workforce reductions.

In 2025, Esquire writer Mark Warren and a team of editorial writers at the Houston Chronicle each won the Pulitzer Prize, demonstrating the continued journalistic quality of Hearst's consumer media properties despite the strategic shift toward Business Media.