Hearst Nears iCrossing Pact
Newspaper-and-magazine publisher Hearst Corp. is near a deal to acquire digital-marketing firm iCrossing, according to people familiar with the matter, the latest sign of how publishers are going head to head with Madison Avenue to grab some of the growing revenues from online advertising.
Under the deal, which is in the final stages of negotiations, iCrossing, one of the nation’s biggest independent digital-marketing shops, is likely to fetch about $375 million, plus bonus payments if it reaches certain targets, these people said.
Digital-marketing firms help companies pitch their products on the Internet, via cellphones and through other interactive channels. They have attracted particular interest from ad agencies and others as marketers shift more of their ad dollars from traditional media to the Web.
