Another Old Media-New Media Bet: Hearst Invests $21 Million in Dude-Centric Complex
Enter the new breed of digital publishers, who say they can solve that problem. You’re familiar with some of the ways this plays out. Now here’s another one: Hearst is investing $21 million for a minority share in Complex, a network of pop culture websites.
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.