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Podcast: Channels with Peter Kafka
Episode: Digital media companies are headed for a crash (David Carey, president, Hearst Magazines)
Description: Hearst Magazines President David Carey talks with Recode's Peter Kafka about how the 130-year-old media giant is striking a balance between its print legacy and the digital future. Carey says print still accounts for two-thirds of his division's profits, and it will be a "long time" before those lines cross. And he predicts that many digital media companies that are heavily reliant on advertising have a rough year ahead, with too much cash heading out the window and no moat to protect themselves. Carey also talks about the advantages of being a private company, why he readily partners with...