|Amazon.com & Hearst Corporation Expand Business Relationship|
SEATTLE, WA and NEW YORK, NY, Sep 13, 2011 (MARKETWIRE via COMTEX) --
Amazon.com, Inc. (NASDAQ: AMZN) and Hearst Corporation today announced that the two companies have entered into an expanded, multi-faceted consumer marketing, e-commerce and content relationship.
Amazon will become Hearst's single-largest third-party seller of print subscriptions for its magazines via digital channels and will work with Hearst in e-commerce. The deal gives Amazon customers access to content from one of the world's largest publishers of monthly magazines and provides Hearst access to Amazon's growing and evolving e-commerce platform.
"Hearst is one of the world's leading diversified media companies and we are delighted to work with them on this multi-pronged deal," said Steve Kessel, senior vice president, Kindle.
David Carey, president, Hearst Magazines, commented: "This bridge between one of the best platform and technology companies and our premier media and content company gives Hearst and Amazon a launching pad to take both our businesses to the next level. Amazon values exceptional content and we are excited about the possibilities. We look forward to working with the Amazon team."
To date, Hearst has sold more than four million magazine subscriptions via the Internet and expects to increase its sales via this expanded agreement.
About Amazon.com Amazon.com, Inc. (NASDAQ: AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com, Inc. seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as Books; Movies, Music & Games; Digital Downloads; Electronics & Computers; Home & Garden; Toys, Kids & Baby; Grocery; Apparel, Shoes & Jewelry; Health & Beauty; Sports & Outdoors; and Tools, Auto & Industrial. Amazon Web Services provides Amazon's developer customers with access to in-the-cloud infrastructure services based on Amazon's own back-end technology platform, which developers can use to enable virtually any type of business. Kindle, Kindle 3G, Kindle with Special Offers, Kindle 3G with Special Offers and Kindle DX are the revolutionary portable readers that wirelessly download books, magazines, newspapers, blogs and personal documents to a crisp, high-resolution electronic ink display that looks and reads like real paper. Kindle 3G, Kindle 3G with Special Offers and Kindle DX utilize the same 3G wireless technology as advanced cell phones, so users never need to hunt for a Wi-Fi hotspot. Kindle is the #1 bestselling product across the millions of items sold on Amazon.
Amazon and its affiliates operate websites, including www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca, www.amazon.cn, and www.amazon.it. As used herein, "Amazon.com," "we," "our" and similar terms include Amazon.com, Inc., and its subsidiaries, unless the context indicates otherwise.
Forward-Looking Statements This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.
About Hearst Corporation Hearst Corporation (www.hearst.com) is one of the nation's largest diversified media companies. Its major interests include ownership of 15 daily and 38 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 29 television stations, which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet and marketing services businesses, television production, newspaper features distribution and real estate.
With its acquisition of Lagardere SCA's 100 titles in 14 countries outside of France, Hearst Magazines publishes more than 300 editions around the world, including 20 U.S. titles. Hearst Magazines is a leading publisher of monthly magazines in the U.S. in terms of total circulation and reaches 88 million adults (Spring 2010 MRI).
Media Contacts: Amazon.com, Inc. Media Hotline 206-266-7180 www.amazon.com/pr Hearst Corporation Paul Luthringer 212-649-2520 email@example.com
SOURCE: Amazon.com, Inc.; Hearst Corporation