Being in business with Mark Burnett for nearly five years was a lucrative move for Hearst. The privately held media conglom saw “stellar” returns from its investment in Burnett’s One Three Media, Hearst president-CEO Steven Swartz wrote in his annual “state of Hearst” letter to employees, to be released on Monday. The sale of the Hearst-Burnett joint venture to MGM last month was one element that helped Hearst reach record revenue and profits for the fifth consecutive year, Swartz wrote....
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