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Hearst Buys Remaining 20% of Fitch Group
Monday 16 April 2018

16 April 2018 - US-based media company Hearst has purchased from Fimalac S.A. an additional 20% interest in global financial information services company Fitch Group, bringing Hearst's equity interest to 100%, the company said.

The transaction is valued at USD 2.8bn.

Hearst acquired its original interest in Fitch Group in 2006, and increased its holdings to 80% in 2015.

Fitch Group, comprised of Fitch Ratings, Fitch Solutions and Fitch Learning, provides insights and analysis which are critical to the global financial community.

The group has expanded revenue streams, with more than 20% of the company's revenue in recent years coming from data products outside of ratings.

Hearst is one of the nation's largest diversified media, information and services companies with more than 360 businesses.

Its major interests include ownership in cable television networks such as A and E, History, Lifetime and ESPN; global ratings agency Fitch Group; Hearst Health.

The company owns 31 television stations such as WCVB-TV in Boston and KCRA-TV in Sacramento, Calif., which reach a combined 19% of US viewers; newspapers such as the Houston Chronicle, San Francisco Chronicle and Albany Times Union, nearly 300 magazines around the world including Cosmopolitan, ELLE, Harper's BAZAAR and Car and Driver; digital services businesses such as iCrossing and KUBRA; and investments in emerging digital and video companies such as Complex Networks, AwesomenessTV, BuzzFeed and vice.
Date Published: 16/04/2018
Target: Fitch Group
Country: USA
Deal Size: 2.8bn (USD)
Sector: Media
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor: Fimalac S.A.
Buyer: Hearst