Hearst Corp acquires stake in research firm

Hearst Corporation has acquired a 20% stake in Stylus Media Group, a global business intelligence firm, as it looks to develop more targeted content around its brands.

Hearst

The deal will allow the Cosmopolitan and Elle publisher to track consumer behaviour across industries including automobiles, fashion and hospitality, a move it believes will help it spot upcoming trends.

Hearst Corp views the venture as a way to provide titles such as Elle, Good Housekeeping and Car and Driver with more opportunities for advertisers to invest in.

Frank A. Bennack, Jr, chief executive of Hearst Corp, says: “For all businesses to be competitive, spotting the next trend can mean success or failure. The growth potential is very promising, as is the benefit to our own brands and businesses.”

Hearst’s Interactive Media Group division will manage the company’s stake in Stylus and its president, Kenneth Bronfin, will join the Stylus board.

Stylus was founded in 2010 and provides consumer research to more than 220 clients including Saatchi and Saatchi, Marks & Spencer, Ford and Sony.

Financial terms of the deal were not disclosed.

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