Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

Hearst buys an Internet marketing company

NEW YORK, June 3 – The Hearst Corporation has concluded a deal to buy Internet marketing company iCrossing in a transaction valued at between 325 and 400 million dollars, the Wall Street Journal reported Wednesday.

"This move today is further diversification of our lines of business," Hearst CEO Frank Bennack told the newspaper.

"We know that our marketing partners will welcome this, and already ask us on occasion for services we haven\’t been able to deliver."

Hearst, which publishes Cosmopolitan and Esquire magazines, has been pursuing iCrossing for several months. The firm advises marketers on buying Web-search keywords, crafting websites and tracking brands online.

The Journal, citing people familiar with the deal, said the purchase was set at 325 million dollars, with the possibility of it going up to 400 million dollars if certain financial objectives are met.

Hearst, a privately held company founded by legendary press baron William Randolph Hearst, is one of the biggest US media companies.

Its properties include the San Francisco Chronicle, Houston Chronicle, Denver Post, television chains and Internet sites.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...