NEW YORK — Hearst Magazine today announced the formation of Hearst Autos, which brings together the media giant's collection of automotive media businesses into one dedicated division. Nick Matarazzo, the former CEO of Jumpstart Automotive Group, was named president of the new division.
Hearst Autos will be composed of both business to business and consumer-facing brands like Car and Driver, Road & Track, Jumpstart Automotive Group and Veretech Holdings, Inc.
“Hearst is proactive in our efforts to work across divisions and identify opportunities where our businesses can maximize scale for clients and consumers,” said David Carey, president of Hearst Magazines. “Hearst Autos is a perfect example of this: we’re harnessing the innovation and engagement of our brands to provide automotive manufacturers, dealers and shoppers with trusted, informative content and sophisticated tools that make researching, buying and selling vehicles easier and more efficient.”
The multiple companies that will compose Hearst Autos will all bring something different to the table. Car and Driver and Road & Track bring a combined audience of 24 million consumers who trust the brands for their automotive journalism. Veretech will provide valuation and credit score tools, data and analytics to help power Hearst Autos, according to the company. Jumpstart Automotive Group, a diversified automotive media, information and services company, will focus on marketing solutions for manufacturers and dealers.
In the five years that followed Matarazzo's enstatement as CEO of Jumpstart Automotive Group in March 2010, the company experienced five years of record-breaking revenue growth.
“Nick is an admired executive, who has built Jumpstart into one of Hearst Magazines’ top-performing digital assets,” Carey continued. “The ultimate ‘car guy,’ Nick was at the forefront of digital automotive marketing and understands the power of technology and data to deliver a frictionless experience that connects car-buying consumers to auto manufacturers and dealers.”
Originally posted on F&I and Showroom