Name: Hearst CEO Explains Why the Media Company Is Buying More Newspapers
Uploaded: 2025-04-01T14:20:00Z
Duration: 2 min 26 s
Description: Steve Swartz, CEO of Hearst, talked to Barron's Andy Serwer about winning business models for newspapers amid declining print media.

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Steve Swartz, CEO of Hearst, talked to Barron's Andy Serwer about winning business models for newspapers amid declining print media.

https://m.wsj.net/video/20250401/0c17651a-0caf-4956-be28-d4aadb688cca/1/hls/manifest-hd-wifi.m3u8

Hearst CEO Explains Why the Media Company Is Buying More Newspapers

You do have a consumer side of the business. Besides the 35 television stations, you have 26 daily and 52 weekly newspapers. I want to ask you about the newspaper business. That is a business in decline, there's no two ways about that. But you've actually been expanding. You bought the newspaper in Waterbury, the newspaper in Austin from Gannett. Why the heck are you guys doing that?

Well, I don't know that the business as a whole has to be in decline. Clearly, print is in decline. It's regrettable. It's still my favorite way to read the newspaper, but that's just true. And I think that's mostly because advertisers have moved on to more data-centric mediums. I think there are still a lot of readers who still like print, but obviously digital is where everything's going. We've had excellent growth in our digital subscriptions, so I don't know that the business has to decline. You know, we believe we can get growth in the newspaper business, but there's no question, it is one of the tougher media businesses.

Right, I mean, the strategy, of course, if you're replacing digital subscription revenue from print, you're going from, you know, the old line now, dollars down to nickels and dimes, and there's a model where you can pull that off?

Look, we believe so in our larger markets, you know, being able to charge... Look, the most successful newspaper, I think we all know, "The New York Times," really sets a model. Being able to get a strong both print and digital subscription price is very important. We are generally able to do that in our markets. In our largest markets, we also have a free to the consumer website to reach more of the audience that inherently the paid product is going to do, and we found that combination to work pretty well.

Oh, that's interesting. Having both like that. And Texas is a big point of emphasis for your company, it looks like, with newspapers as well, right?

We're very committed to Texas. We own "The Houston Chronicle," the "San Antonio Express News," and we recently agreed to acquire the "Austin American Statesmen," but we also own a number of other newspapers there. We're in Beaumont, we're in Laredo, and you know, we're very committed to the Texas market.

Hearst CEO Explains Why the Media Company Is Buying More Newspapers

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