Hearst Corporation - Definition and Overview

The Hearst Corporation is a large privately-held media conglomerate based in New York City. Founded by William Randolph Hearst as an owner of newspapers, the company's holding now include a wide variety of media. The Hearst family is involved in the ownership and management of the company.

Trustees of William Randolph Hearst's will (2003)

Under William Randolph Hearst's will, a common board of thirteen trustees, five family members and eight outsiders, administer the Hearst Foundation, the William Randolph Hearst Foundation, and the trust that owns (and selects the 21-member board of) the Hearst Corporation. The foundations shared ownership until tax law changed to prevent this. The present trustees are:

• George Randolph Hearst Jr., chairman of Hearst Corporation and president of the Hearst Foundation
• Victor F. Ganzi, president and chief executive officer of the Corporation
• Frank A. Bennack Jr., vice chairman and longtime former president and chief executive of the Corporation
• William Randolph Hearst III, president of the William Randolph Hearst Foundation
• John Randolph Hearst Jr., an officer and director of the corporation
• Virginia Hearst Randt, daughter of late former chairman Randolph Apperson Hearst
• Anissa Bouadjakdji Balson, granddaughter of David Whitmire Hearst Sr.
• Richard E. Deems, former head of Hearst Magazines, now a consultant
• Gilbert C. Maurer, succeeded Deems as head of Hearst Magazines,then preceded Ganzi as executive vice president and chief operating officer under Bennack, now a consultant
• Raymond J. Petersen, longtime executive vice president of Hearst Magazines, retains title but largely inactive
• Mark F. Miller, executive vice president of Hearst Magazines
• John G. Conomikes, vice president of Corporation, oversees broadcast interests
• Harvey L. Lipton, lawyer and former vice president and Secretary of the Corporation

The trust dissolves when all grandchildren of William Randolph Hearst alive at his death have died.

Assets

see List of assets owned by Hearst Corporation

A non-exhaustive list of its properties and investments includes:

Magazines

• Cosmopolitan
• Esquire Magazine
• Good Housekeeping
• Harper's Bazaar
• Popular Mechanics
• Redbook

Newspapers

• Houston Chronicle
• San Francisco Chronicle
• Seattle Post-Intelligencer
• Beaumont Enterprise
• Jasper Newsboy

Television and Cable (investments)

• Hearst-Argyle
• Lifetime Television
• ESPN

Competitors

• Condé Nast Publications

External links

• Hearst Corporation home page (http://www.hearst.com/)
• The Hearst Foundation, Inc. (http://hearstfdn.org/)