Mark Thompson at SXSW: Why The New York Times Bought HelloSociety
When it comes to acquisitions, The New York Times is “extremely choosy,” CEO Mark Thompson said. As evidence, he noted that the company’s purchase of the social infuencer network HelloSociety, announced Friday, was the first during his approximately three and a half years as chief executive.
“My view is, it’s like the fit, the strategic fit, has got to be just right,” Mr. Thompson told Ad Age on the sidelines of the South By Southwest Interactive News conference in Austin, Tex. “We’re interested in acquisitions which tuck in and help us complete or accelerate our strategy.”
HelloSociety, he said, is an important piece in the jigsaw that is the company’s branded content business. “It’s about building out, and it’s part of the broader transformation of the way we think about digital advertising,” he added.
