Magazine Goals: Hearst Invests $21 Million in Complex

26 September 2015,   By ,   0 Comments

Hearst Invests $21 Million in Complex

Hearst Corp. has acquired a minority stake in Complex, via a $21 million investment. Complex publishes a bi-monthly magazine and owns several other sites, including pigeonsandplanes.com, fourpins.com andfirstwefeast.com. (FishbowlNY)

Complex began as a print publication in 2002 and has since expanded into a multiple websites that now collectively reach 57 million millennial men each month while still publishing six times a year. The widely discussed Aug./Sept. issue featured Khloe Kardashian on the cover.(THR)

Hearst executive Neeraj Khemlani, who runs the company’s digital studios and steered this investment, will take a board seat at Complex. Complex started out in 2002 as designer Marc Ecko’s fashion magazine and now says it reaches 57 million visitors a month in the U.S. and generates 192 million video views a month.(Re/code)

The $21 million strategic investment is the latest of several Hearst has made recently in video-heavy digital media companies, including Vice Media and AwesomenessTV. The deals come amid a wave of partnerships between digital media upstarts and traditional media giants seeking to attract younger audiences that have migrated online. (WSJ)

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