Wednesday, November 23, 2011
Hearst Corp launches online shopping platform
eEight media and publishing companies, including Hearst Corp, have joined together to create a common online shopping platform to help advertisers to reach consumers making purchasing decisions. The venture, titled Find n Save, will allow advertisers to reach 19 of the top 50 markets, with an expansion into 21 of the top 50 markets within a few weeks. Hearst has also been in the news for a purchase that was made in 1999. Hearst Corp purchased the New York based media conglomerate Chron. Although the property is now worth less than half of the nearly one billion dollar purchase price, there is some optimism. Although The Chronicle Building is a historic site and cannot be torn down, there is some talk of developing the area around it; creating high end condos or office spaces.
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I'm interested to see where this new venture goes. I think it's a great idea and the route Hearst and other cable companies should be taking.
ReplyDeleteAndrea, where is the Chronicle Building? Also, if the Hearst Corp. succeeds with this venture maybe other publishing groups will follow in their footsteps to generate more capital.
ReplyDeleteThough the purchase of Chron by Hearst may have reported a loss, I'm sure that is temporary until they establish the business/property for which it was purchased. Hearst has a knack for turning debris into gold. Maybe it will be a sled factory/outlet. ;)
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