Hearst Did Well In 2023 Despite Economic Headwinds (mediapost.com)

Despite numerous headwinds, “we achieved our second-best year ever judged by our principal measure of profitability, falling short by 2% of the record results of 2022,” writes Steven R. Swartz, president & chief executive officer, in his annual letter.

Swartz adds, “A sluggish digital advertising environment, the typical cyclical effect on television station advertising in a nonelection year and continued cord-cutting in television led to profit declines in all of our consumer media sectors: Newspapers, Magazines and Television.”
https://www.mediapost.com/publications/article/393529/hearst-did-well-in-2023-despite-economic-headwinds.html

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