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
paul@hearst.com
SOURCE: Amazon.com, Inc.; Hearst Corporation
http://www.amazon.com/pr
mailto:paul@hearst.com
