Industry Moves: Hearst Adds Four Execs To Large Board

Steven Swartz, Hearst

Privately held Hearst Corp. has added four executives to its board of directors: George R. Hearst III, publisher of the Albany Times Union, and the son of Hearst Chairman George R. Hearst, Jr.; Richard Malloch, president of Hearst Business Media and SVP of Hearst Corp.; Scott Sassa, president of Hearst Entertainment & Syndication; and Steven Swartz, president of Hearst Newspapers. (The last three are also corporate SVPs.) That brings the total number of directors, elected by the trustees of The Hearst Family Trust, to 20 — three of them women (Cathie Black, Virginia Hearst Randt, Anissa B. Balson) — and at least eight family members, including seven with Hearst in their name. GRH III’s brother Stephen is already on the board.

Three of the additions — Sassa, Swartz and Malloch — are key to the company’s digital evolution. Malloch is credited with creating Hearst’s current trade publishing strategy to one focused on subscriptions and licensing fee revenue. Sassa oversees the company’s interests in cable networks (ESPN (NYSE: DIS), Lifetime, A&E and History), television programming, newspaper syndication and merchandise licensing; the group is going through a digital expansion that includes potential M&A and online programming. Swartz led the acquisition of a majority stake in SEM firm Metrix4Media, helped form online sales joint venture quadrantONE and was involved in founding the Yahoo (NSDQ: YHOO) Newspaper Consortium and the newspaper partnership with real estate site Zillow; he’s also responsible for the highest-profile switch of a newspaper from hybrid to online only, the Seattle Post-Intelligencer. However, Ken Bronfin, the president of Hearst Interactive Media, is not on the board. Release


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