American media conglomerate Hearst Corporation has announced that it has acquired a 20% stake in Stylus Media Group, a London-based consumer intelligence provider.
Hearst is one of the US’s largest media and information companies, and currently owns 15 daily and 37 weekly newspaper titles, including the Houston Chronicle and San Francisco Chronicle, as well as magazines such as Cosmopolitan and ELLE.
Stylus is typically used by design, marketing, branding and business development departments within companies to feed into new product ideas, as the company tracks consumer behavior and cultural shifts across multiple industries. More than 200 major corporations across 50 countries have subscribed to Stylus data since it was founded in September 2010, including Saatchi & Saatchi, Sony, Ford, Colombia Sportswear, Marks & Spencer and Interbrand.
The joint announcement today was made by Frank A. Bennack, Jr., CEO of Hearst, and Marc Worth, CEO and founder of Stylus. The deal will see the president of Hearst Interactive Media, Kenneth A. Bronfin, join the Board of Directors at Stylus.
“This strategic partnership signals a wealth of new opportunities for Stylus,” says Worth. “Hearst’s global presence will help drive Stylus’ business forward in Asia and Latin America as well as its core markets of U.S. and Europe.”
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In addition to its newspaper and magazine portfolio, Hearst also owns 29 television stations, reaching 18% of US viewers. And it also has ownership in cable networks, such as Lifetime, A&E, History and ESPN, not to mention interests in the automotive, electronic, medical/pharmaceutical and financial information industries.
“For all businesses to be competitive, spotting the next trend can mean success or failure,” added Bennack. “We believe that Stylus offers information that no company should be without. The growth potential is very promising, as is the benefit to our own brands and businesses.”
The full financial terms were not disclosed.
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