Hearst Television

By Apollonia Maldonato
Hearst TV

Photo courtesy of hearsttelevision.com

Hearst Television Inc.

300 W 57th St.

New York, NY, 10019 United States

(212) 887-6800

http://www.hearsttelevision.com

About Hearst Television Inc. [1]

Hearst Television Inc. is the broadcasting arena of the Hearst Corporation. It is comprised of 29 television stations and two radio stations. Its stations reach as many as 18% of households in the United States spanning over two dozen markets. It is one of the nation’s largest television groups. The company owns several ABC and NBC affiliate stations. They also have two radio stations in Baltimore as well as two CBS affiliate stations. Hearst Television leads the convergence of local broadcast television and the Internet through its partnership with Internet Broadcasting. The company started trading privately in 2009 after becoming privately owned by Hearst Corporation.

Key Executives:

David J. Barrett [2], Chairman and Chief Executive Officer of Hearst Television Inc. began working for Hearst Corporation in 1984 as the general manager of the company’s Baltimore radio stations. He was appointed CEO of the company in 2001. Barrett has received several awards in the industry including being inducted into the Broadcasting & Cable Hall of Fame in 2008 and being named Broadcasting & Cable magazine’s 2004 “Broadcaster of the Year.” jordan wertlieb- HearstJordan Wertlieb [3],  President of Hearst Television, began working for Hearst Corporation 1993 and was named the company’s president in December 2012. He also serves as the President- Chairman of the NBC Affiliate board.Frank Biancuzzo- Hearst

Frank Biancuzzo [4], Senior Vice President of Hearst Television, began working for the company in 1995 when he served as the Vice President of Marketing and Promotion. He later became the President of the Hearst Television ABC station in Milwaukee from 2002 until 2007. He was appointed to be a Senior Vice President in 2007. He also has a role of Hearst Television Group Head.john drain- Hearst

John J. Drain [5], Senior Vice President of Finance, began working at Hearst in 2010 when he was appointed the Senior VP of Finance. Before working for Hearst Television, he was the Vice President of Finance and Administration for the advertising sales division of Comcast Cable Corporation, Comcast Spotlight.

Click for more information on important people at Hearst Television

Competition [6]

Some major industry competitors of Hearst Television are:

  • Sinclair Broadcast Group Inc.
  • Raycom Media Inc.
  • Local TV, LLC

Financials [7]

The last annual report available to the public was published in 2008. During this year the the company had earned $755,738 in revenue. In 2009, Hearst Corporation acquired Hearst- Argyle and it became Hearst Television, a wholly owned component of the company. Since the acquisition, it is no longer a publically traded company and its financial statements are unavailable. However, according to Crain’s New York Business, the company has earned a revenue of almost $10 billion, a $1 billion increase from its 2012 revenue which was slightly more than $9 billion. [8]

Brief History [9]

Hearst argyle

Photo courtesy of onedomain.com

Hearst Corporation was founded in 1928 when it entered the broadcasting world by acquiring WSOE Radio Milwaukee. Since its original acquisition, the company has bought out dozens of other TV and radio stations. Hearst merged with Argyle Television in 1997 to form Hearst- Argyle Television. The company was publicly traded, first on Nasdaq until 1998 and then transferred to the New York Stock Exchange where it was public until 2009 when the company became wholly owned by Hearst Corporation. The name was officially changed to Hearst Television.

Hearst Television’s Current Expenditures:

Hearst Television’s Upward Spiral

cronkie award

Photo courtesy of cronkiteaward.org

Although Hearst Television is not a commonly spoke of company, its role in political coverage through the years has made Hearst Television a staple in news broadcasting. A challenge for the entirety of Hearst Corporation is finding new businesses that can help define the future of Hearst. The company is currently spiraling upwards, and Hearst Corporation CEO, Steven Swartz and Hearst Television CEO, David Barrett, are striving to find new ways to keep the company heading in this direction. The company has won six consecutive Walter Cronkite Awards for its coverage of politics and is the media leader in political coverage. The Hearst Television group has been successful in local advertising as well as solid coverage of elections. [10]

Improving the TV Viewing Experience

An article published by TV Technology on November 7 stated that Hearst Television Inc has fully incorporated Matrix Solutions’s web-based media CRM and sales analytics solution into all of its TV stations. The complete implementation process took a total of ten weeks to complete. According to Al Lustgarten, vice president of IT for Hearst Television, “Hearst Television’s objective was to find a CRM solution with a partner that understands the broadcast business model and could provide software as a service model.” The Matrix system allows access by means of the web or mobile device. It normalizes data saving time in analyzing it. This is extremely useful at a corporate level. [11]

Hearst vs. Aereo: A Copyright Fight

aereo_logo

Hearst Television appeared in federal last month in a plea to shut down the internet streaming website startup, Aereo. The federal court denied Hearst’s request and decision could lead to a supreme court case. The website is unlawfully using copyrighted content from WCVB, Hearst Television’s ABC affiliate Boston TV station, for profit. The law suit was originally filed by Hearst in July. The Judge had decided that the compnay did not make its case and the victory went to Aereo. However, other major broadcasters are fighting the same battle with Aereo’s, so-called, unconstitutional practices. [12]

A Visit to UNC Chapel Hill

Just last week, Hearst Televsion CEO, David Barrett and ABC News President, Ben Sherwood  headlined at the Wade H. Hargrove Communications Law and Policy Colloquium at University of North Carolina, Chapel Hill. The two men shared their own remarks on what they believed would be the “Future of Televsion News.” they then engaged in an open discussion with the audience. During his visit, Barrett shared a conversation with Dean Susan King of the UNC School of Journalism and Mass Communication. The two discussed disruptive media in today’s culture as well as the reputation Hearst strives to uphold in society. [13]

Conversation between David Barrett and Dean of UNC Chapel Hill School of Journalism

Support of New Technologies: Investment in Roku

Roku Box- amazon

Photo courtesy of amazon.com

Roku, an internet set-top box company, had earned $60 million in funding. One of the companies that invested in Roku was Hearst Television. The company sells softball size boxes that allow consumers to stream music and videos. Roku is currently collaborating with consumer-electronics to have merchandise with Roku readily installed.The Senior Managing Director at Hearst, Ken Bronfin, said in a statement about Roku’s product that Hearst is very impressed about the unique position that Roku has constructed in the media market and they anticipate working with them to develop other innovative services for television audiences. CEO of Roku is grateful for the recognition of his brand’s potential success in the market and belief in the Roku platform. Hearst’s, along with other companys’ generous funding was necessary for this product to potentially re-frame future television consumer experiences. [14]

Hearst Ahead of the Times: The Next Generation Newsroom

Hearst Television’s new project, The Next Generaton Newsroom, is giving reporters, photographers, and producers the latest technology so they can update news on all platforms. The state of the arc technology has changed the way the newsrooms operate. Although the consumers do notice the change, they expect it. Brian Bracco, Vice President of News at Hearst Television Inc. states that with all of the new platforms and methods of spreading news, there is no more exciting time than the present to be in the media business. [15]

Watch “The Next Generation Newsroom” Video

Conclusion

Over the years, Hearst Television has developed innovative ways to better the TV viewing experience. The company has earned a renowned reputation due to its outstanding coverage on politics. Hearst continues to strive to be one of the best television companies in this fast paced world. 

Sources

[1] About Hearst Televsion

[2] David J. Barrett

[3] Jordan Wertlieb

[4] Frank Biancuzzo

[5] John J. Drain

[6] Competition

[7] Financial Information

[8] More Financials

[9] History of Hearst

[10] Hearst on a role

[11] Implementing Matrix Solutions

[12] Lawsuit with Aereo

[13] A Visit to UNC Chapel Hill

[14] Investment in Roku

[15] Next Generation Newsroom

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