Steven A. Hobbs will join Hearst-Argyle Television Inc. in the newly created position of svp/chief legal and development officer, effective January 21, 2004, reporting to Hearst-Argyle TV president/ceo David J. Barrett.
"Steve Hobbs has worked closely with our company for many years, and has played an important role during the recent six-year period of our significant expansion and growth as a public company," Barrett said. "We are excited to have him join us in this new position, and I know he will be a valued addition to our strong senior management team. Steve will help us evaluate new opportunities for growth, providing a valuable strategic and legal perspective that will help us address the challenges and opportunities in an exciting, but increasingly complex and competitive television industry. His strong executive leadership skills will be of great benefit to our stations, our company, and to our various other strategic ventures."
Hobbs, a partner with the law firm of Clifford Chance US LLP, since 1993, based in the firm's New York office, is a member of Clifford Chance's corporate and securities law practice and has served as the firm's Americas merger-and-acquisition group practice leader as well as a member of its Americas management group.
Hobbs has advised on transactions involving both public and private media entities including the formation of Hearst-Argyle Television through the merger of Argyle Television, Inc. with The Hearst Corp.'s broadcasting group; Hearst-Argyle Television's acquisition of the broadcasting assets of Pulitzer Publishing Company; Hearst's acquisitions of THE SAN FRANCISCO CHRONICLE and THE SAN ANTONIO EXPRESS-NEWS; and Cable & Wireless U.S.A., Inc. in the sale of its dial-up Internet access services business to Prodigy Communications.
Hearst-Argyle TV (www.hearstargyle.com) owns 24 television stations, and manages an additional three television and two radio stations, in geographically diverse U.S. markets. Its TV stations reach about 17.7% of U.S. TV households, making it one of the largest U.S. television station groups. Hearst-Argyle owns 10 NBC affiliates, and is the second-largest NBC affiliate owner. Hearst-Argyle TV also owns 11 ABC affiliated stations, and manages an additional ABC station owned by The Hearst Corp., and is the largest ABC affiliate group. IN addition, the company owns two CBS affiliates and a WB affiliate, and manages a UPN affiliate and an independent station. Hearst-Argyle also is involved in television production and syndication, through a joint venture with NBC Enterprises, and is a leader in the convergence of local broadcast television and the Internet through its partnership with Internet Broadcasting Systems.