Hearst Buys Stake in Consumer Behaviour Agency

Media and information giant Hearst Corporation has acquired a twenty percent stake in UK-based consumer behaviour and trend spotting specialist Stylus Media Group. Financial terms were not disclosed.

From its headquarters in London and offices in New York and Los Angeles, Stylus provides an online subscription-based service which tracks consumer behavior and cultural shifts across consumer industries such as automotive, technology, media, retail and fashion. This service is used by design, marketing and branding agencies to stimulate new ideas about consumer products and services.

Commenting on the acquisition, Hearst CEO Frank Bennack, Jr. said: 'For all businesses to be competitive, spotting the next trend can mean success or failure. We believe that Stylus offers information that no company should be without - the growth potential is very promising, as is the benefit to our own brands and businesses.'

Marc Worth, CEO and founder of Stylus, says the partnership will help his firm expand in Asia and Latin America, as well as its core markets of the US and Europe. 'Hearst's investment in both technology and new media businesses makes it an ideal partner and will allow us to meet demand for cross-sector, cross-country design intelligence,' he adds.

As part of the agreement, Kenneth Bronfin, President of Hearst Interactive Media, will join the Stylus Board of Directors.

Web sites: www.hearst.com and www.stylus.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.