Scottsdale, Ariz.

Hearst Corporation and iCrossing today announced an agreement for Hearst to acquire iCrossing, one of the largest independent digital marketing services providers in the world. The announcement was made by Frank A. Bennack, Jr., vice chairman and CEO, Hearst Corporation, and Don Scales, president and CEO, iCrossing.

Recent mergers and acquisitions activity in the magazine market suggests a move toward niche publishing and diversification of revenue sources, investment bankers tell Publishing Executive Inbox.

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