NEW YORK, NY -- (Marketwire) -- 12/05/12 -- Hearst Corporation today announced that Steven R. Swartz, executive vice president and chief operating officer of Hearst Corporation, has been promoted to president and COO, effective immediately. Frank A. Bennack, Jr., continues as chief executive officer. The announcement was made by Bennack following a meeting of the Hearst Board of Directors.

"Having worked with Steve for more than 20 years, I'm highly confident he will succeed in this new role -- just as he has in every position he's held with Hearst since 1991," Bennack said. "He has my full support, and that of the entire Board of Directors, as he continues to increase his day-to-day responsibilities in helping to run the Corporation."

Swartz was named COO in March 2011, and has been working closely with Bennack on building the future of Hearst, expanding its stable of diverse media and information businesses around the globe. Before his promotion to COO, Swartz was senior vice president of the Corporation and president of Hearst Newspapers. In that role, he oversaw Hearst's 15 daily newspapers, dozens of weekly papers and digital marketing services company LocalEdge.

Swartz was president of Hearst Newspapers Division from 2009 to 2011, and executive vice president from 2001 to 2008. He is a director of Hearst Corporation, a trustee of the trust established under the will of William Randolph Hearst and a director of the two Hearst Foundations.

Before joining Hearst directly in 2001, he was president and chief executive of SmartMoney, the magazine, website and custom publishing business launched by Hearst and News Corporation's Dow Jones unit. Swartz had been the magazine's founding editor since 1991.

Under his leadership, SmartMoney magazine won two National Magazine Awards and was Advertising Age's Magazine of the Year. Swartz began his journalism career as a reporter with the Wall Street Journal in 1984 after graduating from Harvard. He served as an editor on the Journal's Page One staff from 1989 to 1991.

About Hearst Corporation
Celebrating its 125th anniversary, Hearst Corporation is one of the nation's largest diversified media and information companies. Its major interests include ownership of 15 daily and 36 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 29 television stations, which reach a combined 18 percent of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in the automotive, electronic and medical/pharmaceutical industries; a 50 percent stake in the global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate. Follow us on Twitter @HearstCorp.

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