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Steve Swartz

CEO of Hearst Corporation, Hess

Search every verified Steve Swartz interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Steven Swartz, president and CEO of Hearst Corporation, discussed the company’s evolution and strategy during a May 7, 2026, conversation in the Enduring Excellence series hosted by the University of Chicago’s Graham School. Swartz stated that media now accounts for about 40% of Hearst’s profits, while 60% comes from B2B and medical data and software businesses, with the Fitch bond rating group being the largest. He described the company’s newspaper operations as a civic mission, noting that while it is “not the best business if you want to look at growth or margins,” Hearst invests heavily in journalism. Swartz also said that over the last 15 years, Hearst has made approximately $19 billion in acquisitions, with about $15 billion in the B2B space, and that the company has no net debt. Swartz emphasized the importance of financial discipline in maintaining the company’s mission, stating that during the pandemic, Hearst avoided layoffs because “most people get their health care from their employer,” a decision enabled by what he called a “fortress balance sheet.” He attributed the company’s 140-year longevity to a strong sense of mission combined with business discipline, and said that when mission and business results come into tension, the company prioritizes mission while ensuring it has sufficient cash reserves to withstand adverse events.

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