Happy Days at Hearst?
Jen: Zowie! Some company out there has some serious change on hand. It's not an investment bank and it is a media company! I didn't know such things existed, media companies with money.
According to Keith Kelly, Hearst has $1 billion in it coffers and it's in a spending kind of mood. It just hired Mitchell Scherzer as CFO to start cutting some checks. Writes Kelly: "The move is seen to signal a more aggressive acquisition strategy by company Chairman and CEO Frank Bennack, who wants to fulfill the Hearst family mandate to find new revenue streams in digital and non-traditional media" (NYP)
Not bad. Although, Apple is sitting on $34 billion in cash.
Posted by: Fact_check | November 12, 2009 at 09:30 AM