Hearst, one of the largest and most diversified media companies in the world, has made two major acquisitions in the past few months, solidifying its position in both local journalism and automotive media. Following its December 2024 acquisition of MotorTrend Group, the company has now announced its purchase of the Austin American-Statesman from Gannett Co., Inc. These acquisitions reflect Hearst’s ongoing strategy of strengthening its media portfolio across print, digital, and event-based platforms.
A Strategic Move into Local Journalism
The Austin American-Statesman, a trusted newspaper serving one of the fastest-growing cities in the United States, will now become part of Hearst’s growing newspaper division. The Statesman has played a crucial role in providing local news coverage on politics, business, and community affairs in Austin, a metro area with more than 1 million residents.
With this acquisition, Hearst now operates 26 daily newspapers and 52 weekly publications across the country, reinforcing its commitment to high-quality local journalism. “This acquisition complements Hearst’s set of newspapers and reinforces our commitment to delivering high-quality journalism,” said Jeff Johnson, president of Hearst Newspapers. “It aligns with our strategy to invest in thriving communities with strong potential.”
The U.S. newspaper industry, currently valued at $23.1 billion, has faced declining print revenue and shifting consumer behaviors. However, digital subscriptions now account for nearly 40% of newspaper revenue, making it a key area for investment. Hearst has successfully navigated this digital transformation by building a multi-platform news ecosystem, combining traditional reporting with online content, podcasts, and newsletters.
The addition of the Austin American-Statesman allows Hearst to tap into one of the nation’s fastest-growing urban centers, where tech giants like Tesla, Apple, and Google are expanding their presence. This acquisition gives Hearst an opportunity to capture the increasing demand for high-quality local journalism in a booming market.
MotorTrend Group: Dominating the Automotive Media Space
Just two months before the Statesman acquisition, Hearst announced the purchase of MotorTrend Group, a move that significantly enhances its reach within automotive media. MotorTrend, a 75-year-old automotive brand, has evolved into a powerhouse with 30 million unique digital users per month. The acquisition includes influential brands such as Hot Rod, Roadkill, and Automobile, along with a strong event and video content business.
The automotive media landscape is evolving, with growing interest in electric vehicles, classic car restorations, and motorsports content. The automotive enthusiast market remains strong, with millions of consumers engaging with car-related content across digital and social platforms. MotorTrend’s stronghold in this space gives Hearst a unique advantage to expand digital advertising revenue, branded content initiatives, and exclusive events.
Debi Chirichella, president of Hearst Magazines, was quoted as emphasizing the significance of the acquisition: “The acquisition of MotorTrend represents a strategic investment in our business—one that enables us to expand our digital offerings, reach an even broader and more diverse community of automobile enthusiasts, and bring the most innovative opportunities to the market.”
This move aligns with Hearst’s broader strategy of investing in niche, passion-driven content areas that have loyal, engaged audiences. With more than 500,000 attendees at MotorTrend events each year, the potential for brand partnerships, sponsorships, and interactive experiences presents exciting revenue opportunities.
The Bigger Picture: A Multi-Platform Media Empire
Hearst’s recent acquisitions highlight the company’s forward-thinking approach to media. Rather than focusing solely on traditional print publications, Hearst is embracing multi-platform strategies, integrating print, digital, video, and live events to maximize audience engagement.
Currently, Hearst Magazines reaches 140 million consumers monthly, with 56% of all Gen Z adults engaging with its brands. The company has successfully balanced legacy media with digital-first strategies, ensuring its brands remain relevant and influential in a rapidly changing media landscape.
The newspaper industry may be shrinking overall, but local journalism is still critical in many regions. Hearst’s continued investment in newspapers—particularly in growing cities like Austin—suggests confidence in the long-term viability of trusted, well-established news brands.
Similarly, the rise of digital content consumption has positioned niche media, like automotive journalism, for sustained growth. MotorTrend’s expansion into video, social media, and live events aligns with how modern consumers engage with content—through a mix of digital interaction and real-world experiences.
What’s Next for Hearst?
With these acquisitions, Hearst has demonstrated an ability to identify strategic opportunities that align with changing media consumption habits while continuing to invest in quality storytelling and audience engagement.
As local journalism faces challenges, Hearst’s acquisition of the Austin American-Statesman underscores a commitment to preserving and strengthening community news. At the same time, MotorTrend Group’s addition enhances Hearst’s position in automotive media and digital entertainment.
In an era where media consolidation is shaping the industry, Hearst’s moves indicate a clear strategy: strengthen legacy brands while embracing the digital future. With its extensive reach across print, digital, and live events, Hearst is continuing to build a resilient, diversified media powerhouse. positioned for long-term growth.
