B2B information. Hearst now owns 100% of Fitch, the financial information and credit ratings company, with operations in 30 countries. It bought its first 20% stake in Fitch from Fimalac, of France, in 2006 for $592m, and spent another $2.6bn increasing its holding to 80% during 2009-14. Fitch has diversified in recent years, and now derives more than 20% of revenues from data services unrelated to its core ratings business, where it competes with the larger Moody’s and Standard & Poor’s. Fitch is (by far) Hearst’s largest business and B2B information is its most profitable division, far ahead of magazines and newspapers. Hearst Corp’s new-ish president and CEO Steve Swartz (an ex-financial journalist) has been concentrating his acquisition firepower on B2B and seems set to continue. When will Hearst join the global race in B2B exhibitions, perhaps starting in the UK?
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Hearst takes full ownership of Fitch
