Hearst is sitting on a billion dollar war chest and it's hired a new CFO -- Mitchell Scherzer, former chief of JPMorgan's U.S. media investment banking arm -- to spend it.
Mitchell's mission is to expand Hearst's reach into digital media.
We came up with 10 companies to consider.
Our suggestions range from the Curbed network to Daylife.
Curbed has cornered the real-estate blog market. Everyone loves to ogle real estate, especially homes they can't afford. That's what the Curbed network -- run by Lockhart Steele -- aims to capitalize on with outposts in New York, Los Angeles and San Francisco.
And Curbed, which also owns the Eater and Racked sites for foodies and shopaholics, respectively, has the kind of rich local content that could give Hearst an edge in the local advertising marketplace.
Launched in 2007, Daylife.com has established itself as a notable news aggregator.
The company analyzes, curates and distributes media content for a roster of clients including USA Today, The Washington Post and The Huffington Post, providing news feeds custom-tailored to various topics.
BusinessWeek declared Daylife one of 2009's "Top 50 Tech Startups," and Hearst, which should delve into promising platforms that aggregate content in nimble and marketable ways, would do well to think about this startup.
Erin Carlson is a reporter for The Business Insider.