Word: hearsts
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...editor, the firm has created a pair of winners, Country Living and Colonial Homes, and has just launched Victoria, a glossy, evocation of the Victorian era complete with recipes for potpourris. Though the magazines contribute an estimated 65% of the company's net profits, some face increasingly aggressive rivals. Hearst's Harper's Bazaar, the tony fashion journal that has run second to Conde Nast's Vogue, is now being challenged by the frisky, well-designed Elle, an American cousin of the French original. House Beautiful is losing ad pages to its onetime equal, House & Garden, which has gone upscale...
...middle-level staffers tend to earn less than their colleagues at other magazine-publishing companies, and turnover is high. Bennack and Gilbert Maurer, president of the magazine division, pride themselves on giving editors freedom in running their publications, though the absolute power is not always uplifting. "Working at Hearst is like life in the Medici Palace," observes a longtime Hearst executive. "All is favoritism...
...founder's 40 or so living descendants, about a dozen work at Hearst, but most of them hold relatively minor jobs. John Hearst Jr. is an editor of Motor Boating & Sailing, while Anne is an editor at Town & Country. The Examiner's Will Hearst, one of the company's stars, is considered a candidate to run the company, but he denies that ambition and praises Bennack. "Having a Hearst in charge could make things more divisive within the family," he says...
William Randolph Hearst Jr., 79, editor in chief of Hearst newspapers and one of the founder's two surviving sons, contributes a weekly conservative diatribe to the company's papers, but his involvement is otherwise sporadic; he has been known to phone editors late in the evening to complain about an editorial cartoon or the placement of an ad. What makes the relatively minor role of the Hearstlings in running the shop so intriguing is that they own the store. The family trust holds 100% of the stock, and dividends are distributed only to relatives. Yet only five...
...arrangement would suit the founder, who in his will avoided giving his sons control of the company. Besides, why should any of the Hearsts be unhappy? Five are listed among Forbes' 400 richest Americans, and the company is prospering. No longer synonymous only with tabloid sensationalism and the gaudy splendors of San Simeon, the firm seems intent on making a good corporate name for itself by sponsoring a seven-part PBS series called The Presidency and the Constitution. William Randolph Hearst Sr. would probably be pleased, but his father George would be even happier, glad that his son never took...