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Posts Tagged ‘Hearst:’

Hearst To Fire As Much As 45 Percent of Hachette Filipacchi Media Workforce After Acquisition

When news came Monday that Hearst was set to buy the magazines published outside of France by Lagardère, it was estimated that layoffs at Lagardère’s U.S. division Hachette Filipacchi would be as high as 30 percent.

The New York Post now reports that the headcount at Hachette Filipacchi Media, whose flagship magazine is Elle, is down to to 633, according to a spokeswoman. Hearst is said to be expecting to retain only about 350 HFM employees, once its agreement with Lagardère is finalized (supposedly before July 1). That would mean a downsizing of about 45 percent of the current HFM workforce.

At this point, the Post reports that advertising, marketing, and editorial are not expected to sustain major losses, and much of the firings will be from the back-office operations.

Hearst Set to Buy Paris-based Lagardère… and Fire 30 Percent of Workforce

Hearst is set to buy the magazines published outside of France by Paris-based Lagardère for about $900 million, the New York Post reports.

Lagardère’s, whose U.S. division Hachette Filipacchi publishes such titles as Elle, Woman’s Day, and Car and Driver, and Hearst, which publishes Cosmopolitan and Esquire, among a number of other magazines, are expected to announce the deal as early as today.

The deal, which would bring under one roof the Hachette media group and Hearst magazines, would make Hearst the clear leader in the international magazine business, so, watch out Time Inc.

But in case you think this is great news for the magazine business, think again: the Post reports that the merger is expected to result in a massive bloodletting of 30 percent or more of the work force. No word yet on where the layoffs are expected to occur.

Chuck Cordray Leaves Hearst Magazines For Pitney Bowes’ Startup Volly

Chuck Cordray, one of Heart Magazines top digital executives for the past five years, is leaving to become president of Pitney Bowes’ recently formed Volly, paidContent reports.

The purpose of Volly is to enable consumers to organize all their annoyingly separate billing statements, magazine subscriptions, and catalogs into one digital portal… which makes it a direct competitor of Hearst’s own new digital billing organizer Manilla, that Hearst unveiled last month.

The account and billing world is something of a new direction for Hearst, a move likely intended for the publisher to counter the diminishing amounts it receives from its traditional source of revenue, advertising. But for Volly’s parent company Pitney Bowes, account and billing management is its bread and butter. Now it’s hiring a veteran of the publishing industry to help stave off publishers from encroaching on its turf.

NYC SeedStart Media 2011 to Provide Mentoring, Funding for Media Startups

A new opportunity has just popped up for media startups in New York. NYC SeedStart Media 2011 is a 12 week summer boot camp specifically for startups in the digital media space, including ad infrastructure, mobile, digital content and ecommerce businesses.  Each of the 10 companies selected for the program will receive  $20,000 in funding, space to work, and mentoring from an impressive group of media, advertising, and tech companies in New York City that includes AOL Ventures, Comcast, Google, Hearst, MTV Networks, News Corporation, New York Times, Ogilvy, Time Warner, and Vivendi, as well as veteran VCs and entrepreneurs.  The ideal applicant is a media-focused team of two with at least one technical co-founder and a source code or beta product ready to go.  The program begins on June 15th and they’ll be accepting applications through March 31st.  To apply, click here.

Hearst President David Carey Lays Out Company Expansion Plans

The first official business day of the new year was a busy one for Hearst president David Carey as he addressed his staff on the future of the company in light of their exclusive negotiations to buy Lagardére‘s international media divisions.  Yesterday Carey distributed a memo to all Hearst employees urging forward thinking and risk taking in 2011.  Carey was at no shortage for words when describing his vision for Hearst in the coming months.  You can read his full note below, courtesy of Folio.

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An Inside Look At The Inside of Hearst

Cathie Black, former Chairman of Hearst Corporation, took on her new job as Chancellor of the city’s schools today. To commemorate that, Cooper Smith at Business Insider got an exclusive look inside the Hearst Corporation building, the place Black used to call her home away from home.

If you’ve ever wondered what it’s like to work at Hearst, head on over and take the photographic tour. But be warned, it’s not all “exclusive” items. There’s definitely good stuff, like pictures of magazine layouts and a tour of the Good Housekeeping Institute. But then there’s also pictures of people waiting for elevators (shocking!) and people eating in a break room (maybe what they were eating was worth documenting?).

Oh, and there’s also a picture of Joanna Coles, Editor-in-Chief of Marie Claire, with a look on her face that says “What are you doing here you idiot?” so everyone can get a feel for what being an intern at Hearst is like. Check out the picture of Coles after the jump.

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It’s Official, Hearst And Lagardére Are Discussing A Deal

As 2010 drew to a close, rumors of French-based media conglomerate Lagardére selling off international divisions including Hachette Filipacchi Media U.S. (HFMUS) to Hearst began to heat up.  Today those rumors have been substantiated as Adweek is reporting that the two sides confirmed that they are in fact discussing a deal that would involve Lagardére selling their overseas press and magazine business to Hearst.  Among the major titles that would move from HFMUS to Hearst are Elle, Women’s Day, Car and Driver, and Road & Track.

The exclusive negotiations between Lagardére and Hearst will run through Jan. 30.  Other suitors that are looking to enter the Lagardére sweepstakes are Germany’s Bauer Media Group and the Meredith Corp.

UPDATE: According to WWD, Lagardére is pushing to retain editorial control over Elle even if Hearst purchases the magazine.

Meredith Corporation Joins Hunt For Hachette Titles

Are you one of the many people in the city who will be hosting a New Year’s Eve party tomorrow night? Well imagine your party is going great. You’re showing off your Justin Bieber t-shirt collection and everyone is really jealous. Then, right before midnight, Dan, the guy you didn’t invite because he always ruins everything, shows up. He then proceeds to well, ruin everything, by getting wasted and vomiting in the fruit punch. The party, something you carefully planned for what seems like forever, goes from being a perfect night to a terrible one. And all because Dan showed up late and screwed everything up.

If you’re Hearst, Meredith is Dan. Keith Kelly says that Meredith Corporation, owner of such titles as Better Homes & Gardens, Fitness, and Family Circle, has now entered into the fight to gain Elle and other magazines from Hachette Filipacchi Media U.S. (HFMUS). Just last week Kelly reported a rumor that Hearst was in the lead, but now, with the supposed mid-January deadline fast approaching, Meredith appears to be interested in working out a deal. Kelly notes that Hearst could still win out, because Meredith is publicly held, so any deal will have to be approved by shareholders.

Only time will tell if Meredith’s bid to be a Dan at Hearst’s (so far) perfect party happens, so stay tuned.

Hearst Rumored to Have Lead on Lagardére Group Selloff

The singer of the great (yes, great) band Survivor once eloquently crooned, “Don’t lose your grip on the dreams of the past, you must fight just to keep them alive.” The line from “Eye of the Tiger” will always be used when discussing Rocky, but should Hearst finally win its bid to acquire titles from Hachette Filipacchi Media U.S (HFMUS), perhaps the execs will make use of the song for a celebration. The fight has been going on for about a year now, but according to Keith Kelly of The New York Post, it could finally be over.

Sources are telling Kelly that the deal looks to be finalized in January. As before, the main hurdle, aside from the complicated international partnerships that will need to be sorted out, is that HFMUS’s parent, Lagardére Group, wants to keep control of its biggest brand, Elle.

Hearst continues to reveal little information on the subject, as Paul Luthringer, Spokesperson for the company, told Kelly, “We are always talking to other companies about opportunities, but we don’t comment on speculation as a matter of policy.”

Stick and move Hearst, stick and move.

Hearst Launches New Issue of TeenProm

Just the mere mention of prom is sure to make parents of teenagers everywhere break out in a nervous sweat, but we’ve got a job to do dammit. The 2011 issue of TeenProm is available today and on sale until April 26th. The magazine, which bills itself as the ultimate resource for all things prom, features actress Lucy Hale of the ABC Family show “Pretty Little Liars,” on the cover. Inside there are features from more stars, like Taylor Swift and Emma Watson.

If you’re a parent of a teenager who is prom-ready, FishbowlNY wishes you good luck. Just remember to install the GPS tracking system on their car before they leave for the night.

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