Hearst Is Staking Its Future on an Editor Turned CEO
When SmartMoney made its debut in 1992, it was anything but another staid business magazine. A joint venture of Dow Jones and Hearst Magazines, it mixed humor with provocative stories, many of which regularly incensed advertisers. Founding editor Steve Swartz, a former Wall Street Journal Page One editor, embraced it all, taking meetings with angry executives. The magazine quickly asserted itself as a contender among personal finance titles and rocketed Swartz's career when Hearst Corp. CEO Frank Bennack Jr. came calling in 2001, offering him the chance to help run Hearst's newspapers. Swartz jumped at the opportunity.