hearst

Hearst Corporation has purchased UGO Networks, an online entertainment company that targets men.

We usually write about companies buying each other, but in this case, Hearst Corporation is going against the trend: it has sold its stake in Local.com.

Newspaper giant Hearst Corporation unveiled its News Reader software, a product born of a partnership with Microsoft. News Reader software debuted in beta at the Seattle Post-Intelligencer as a downloadable application, allowing an on-screen view of Hearst newspapers. The news comes in the wake of growing concern for the future of print media as online content becomes more prevalent and preferred. George B. Irish, president of Hearst Newspapers, and Kenneth A. Bronfin, president of Hearst Interactive Media.

Hoping to capitalize on the online teen market Hearst Magazine's digital unit has acquired eCrush.com a conglomerate of entertainment and social networking sites for teens and young adults. The purchase price has not been disclosed.