SOURCE: Hearst

March 08, 2007 10:24 ET

Bob Burnett Appointed Chairman of National Auto Research; Tom Cross Promoted to President

NEW YORK, NY -- (MARKET WIRE) -- March 8, 2007 -- Hearst Business Media, a unit of Hearst Corporation, has named Bob Burnett to the newly created position of chairman of National Auto Research (NAR), publisher of the respected Black Book family of vehicle appraisal guides. Tom Cross, formerly senior vice president and general manager of Black Book, will replace Burnett as president of NAR. The announcement was made by Richard P. Malloch, president of Hearst Business Media. Both appointments are effective immediately. Both Burnett and Cross will report to Malloch.

Cross will handle the day-to-day business duties of running National Auto Research. As chairman, Burnett will oversee the successful integration of Veretech -- a private technology company recently acquired by Hearst -- into the Hearst Business Media unit. Veretech operates one of the most successful online vehicle trade-in and sales lead generation applications now used by more than 2,000 consumer retail Web sites, manufacturer sites and Web portals.

Commenting on the announcement, Malloch said: "The automotive industry has evolved tremendously over the past few years, and our Division has expanded along with it by acquiring new properties, including Veretech, making wise investments and implementing successful internal initiatives. Both Bob, who joined Black Book in 1979, and Tom, who joined Hearst in the Motor Information Systems unit in 2000, have produced excellent results for Hearst Business Media and I'm delighted that they'll be taking on greater responsibilities."

Burnett commented: "It is a great honor to be named chairman of NAR. Since joining the company, I've seen first hand the transformation of the industry and Hearst's commitment to providing the most accurate information available to our clients. In my new role, I'm looking forward to focusing my efforts on our new acquisition of Veretech, which is well positioned for further growth."

Cross said: "I've been in the automotive industry for more than 20 years and what impresses me most is our customers' high regard for the Black Book brand. One of my main goals as president is to continue that tradition while expanding our range of products and services."

Burnett has received many industry awards, most notably being elected to the National Auto Auction Association's Hall of Fame in 1999. Cross, who earned an MBA from the University of Chicago, is also recognized as a leader in the automotive industry.

Hearst Business Media (HBM) (www.hearst.com/business_media), a division of Hearst Corporation, operates more than 20 business-to-business information services, electronic databases, and publications. The group has holdings in the automotive, electronic, medical/ pharmaceutical, and finance industries.

Hearst Corporation (www.hearst.com) is one of the nation's largest diversified media companies. Its major interests include 12 daily and 30 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News, and Albany Times Union; nearly 200 magazines around the world, including Cosmopolitan, Good Housekeeping, and O, The Oprah Magazine; 29 television stations through Hearst-Argyle Television (NYSE: HTV), which reach a combined 18% of U.S. viewers; joint venture interests in leading cable networks, including Lifetime, A&E, The History Channel and ESPN; as well as business publishing, including a joint venture interest in Fitch Group; Internet businesses; television production; newspaper features distribution; and real estate.

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    Hearst Corporation
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