06/09/2010 // NYC, New York, US // TiffNews10 // News Desk
New York – The Hearst Corporation has acquired Internet marketing company iCrossing. As reported by AFP, the media conglomerate reached a deal last week for what has been stated to be in the $325 to $400 million range for the purchase of iCrossing.
Hearst CEO Frank Bennack is quoted by AFP as stating of the deal to the Wall Street Journal, “This move today is further diversification of our lines of business… We know that our marketing partners will welcome this, and already ask us on occasion for services we haven’t been able to deliver.”
As noted in the report, Hearst, one of the largest media companies in the nation, had purportedly been seeking to acquire iCrossing for months. Hearst owns several newspaper and magazine publications, television stations, cable networks, and other interests.
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