With elections and Olympics back on the agenda, Hearst Television will have a strong year in 2018, and we expect the company’s revenue to grow along with it.Ģ017 was another great year to be a consumer of media products but less so to be a provider of that content. Revenue was flat at $10.8 billion, although this included an expected big drop at our Hearst Television group coming off the record highs of 2016 powered by gains from the presidential election and the Olympics. Total Hearst profit was also helped by gains on the sale of investments. Swartz looks back on Hearst's 2017 performance. We can only say it wasn’t for lack of trying. Our only regret is that we failed to make another big acquisition in this sector in 2017. In 2017 these businesses accounted for 28 percent of our total profit, a number that has more than tripled over the past decade, and one that will continue to grow over time. All of these businesses, which we collectively call Business Media, sell data and software that customers use in their daily activities, a powerful proposition in the increasingly cluttered information landscape. Strong profit growth was also achieved by CAMP, the aviation safety company we acquired in late 2016, as well as Hearst Health, our portfolio of six essential healthcare businesses, and Hearst Transportation, our auto sector group. Our biggest majority-owned business, Fitch Group, led the way with an outstanding performance across the world, particularly in its core bond ratings business. Hearst achieved record profits for the seventh straight year, as our efforts to build and acquire great companies in the business data and software sector helped overcome a tough year for many of our consumer media franchises.
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