William Randolph Hearst - Expansion

Expansion

In part to aid in his political ambitions, Hearst opened newspapers in some other cities, among them Chicago, Los Angeles and Boston. The creation of his Chicago paper was requested by the Democratic National Committee and Hearst used this as an excuse for Phoebe Hearst to transfer him the necessary start-up funds. By the mid-1920s he had a nation-wide string of 28 newspapers, among them the Los Angeles Examiner, the Boston American, the Atlanta Georgian, the Chicago Examiner, the Detroit Times, the Seattle Post-Intelligencer, the Washington Times, the Washington Herald, and his flagship the San Francisco Examiner.

Hearst also diversified his publishing interests into book publishing and magazines; several of the latter still appear, including such periodicals as Cosmopolitan, Good Housekeeping, Town and Country and Harper's Bazaar.

In 1924 he opened the New York Daily Mirror, a racy tabloid frankly imitating the New York Daily News. Among his other holdings were two news services, Universal News and International News Service (INS) (which he founded in 1909). He also owned INS companion radio station WINS in New York); King Features Syndicate; a film company, Cosmopolitan Productions; extensive New York City real estate; and thousands of acres of land in California and Mexico, along with timber and mining interests.

Hearst's father, US Senator George Hearst, had acquired land in the Mexican state of Chihuahua after receiving advance notice that Geronimo – who had terrorized settlers in the region – had surrendered. George Hearst was able to buy 670,000 acres (270,000 ha), the Babicora Ranch, at 20–40 cents each because only he knew that they had become much more secure. George Hearst was on friendly terms with Porfirio Díaz, the Mexican dictator, who helped him settle boundary disputes profitably. The ranch was expanded to nearly 1,000,000 acres (400,000 ha) by George Hearst, then by Phoebe Hearst after his death. The younger Hearst was at Babicora as early as 1886, when he wrote to his mother that "I really don't see what is to prevent us from owning all Mexico and running it to suit ourselves." During the Mexican Revolution, his mother's ranch was looted by irregulars under Pancho Villa. Babicora was then occupied by Carranza's forces. Phoebe Hearst willed the ranch to her son in 1919. Babicora was sold to the Mexican government for $2.5 million in 1953, just two years after Hearst's death.

Hearst promoted writers and cartoonists despite the lack of any apparent demand for them by his readers. The press critic A. J. Liebling reminds us how many Hearst stars would not be deemed employable elsewhere. One Hearst favorite, George Herriman, was the inventor of the dizzy comic strip Krazy Kat; not especially popular with either readers or editors, it is now considered by many to be a classic, a belief once held only by Hearst himself.

Two months before the Wall Street Crash of 1929, he became one of the sponsors of the first round-the-world voyage in an airship, the LZ 127 Graf Zeppelin. His sponsorship was conditional on the trip starting at Lakehurst Naval Air Station, NJ, so the ship's captain, Dr. Hugo Eckener, first flew the Graf across the Atlantic from Germany to pick up Hearst's photographer and at least three Hearst correspondents. One of them, Grace Marguerite Hay Drummond-Hay, by that flight became the first woman to travel around the world by air.

The Hearst news empire reached a circulation and revenue peak about 1928, but the economic collapse of the Great Depression and the vast over-extension of his empire cost him control of his holdings. It is unlikely that the newspapers ever paid their own way; mining, ranching and forestry provided whatever dividends the Hearst Corporation paid out. When the collapse came, all Hearst properties were hit hard, but none more so than the papers; adding to the burden were the Chief's now-conservative politics, increasingly at odds with those of his readers. Having been refused the right to sell another round of bonds to unsuspecting investors, the shaky empire tottered. Unable to service its existing debts, Hearst Corporation faced a court-mandated reorganization in 1937. From this point, Hearst was just another employee, subject to the directives of an outside manager. Newspapers and other properties were liquidated, the film company shut down; there was even a well-publicized sale of art and antiquities. While World War II restored circulation and advertising revenues, his great days were over. Hearst died of a heart attack in 1951, aged eighty-eight, in Beverly Hills, California, and is buried at Cypress Lawn Memorial Park in Colma, California.Still a wealthy man

The Hearst Corporation continues to this day as a large, privately held media conglomerate based in New York City.