Carey: Digital Media Cos. Headed For A Crash

Two-thirds of the profits at Hearst Magazines are still coming from print. And unlike other magazine publishers, David Carey says he’s in no rush to change that. “We reject this notion of ‘digital first,’ because we think that denigrates the core business,” said Carey, the president of Hearst Magazines. “We think there’s a lot of money to be made in the print business.” And he questioned the durability of digital media companies that have historically been reliant on advertising.