Hearst Corporation to Acquire Global Digital Marketing Services Company iCrossing

June 3, 2010

Hearst Corporation and iCrossing today announced an agreement for Hearst to acquire iCrossing, one of the largest independent digital marketing services providers in the world. The announcement was made by Frank A. Bennack, Jr., vice chairman and CEO, Hearst Corporation, and Don Scales, president and CEO, iCrossing. Scales, and all key members of iCrossing management, will continue in their present roles following the transaction's close. The closing is subject to regulatory review as well as other customary conditions. Financial details were not disclosed, as both companies are private. [Editor's Note: Media sources are reporting the sale price as $325 million.]
...