Hearst Looks to Expand Cosmopolitan TV Channel

NEW YORK, May 15: Nicholas Stevens has been named managing
director of international networks for Hearst Entertainment & Syndication,
where he will focus on the international expansion of the Cosmopolitan
Television franchise.

Cosmopolitan Television is a 24-hour cable/satellite channel
concept for young women inspired by the magazine of the same name. It currently
operates in Spain, Mexico and all of South America, reaching 12 million
households. Stevens is charged with expanding the offering to other markets.

The channel offers dramas, comedies, movies and
inspirational and self-help reality programs for the target audience, with the
schedule in each country tailored to local tastes and needs. Among the programs
featured on the various channels are Sex and the City, Ugly Betty, Charmed, top theatrical
movies, and original productions on relationships, sex, fashion, beauty and
elegant lifestyles.

Prior to his appointment, Stevens was a co-founder and
principal of Renova Media Enterprises, a private equity media investment
company based in Moscow. There, he successfully executed a roll-up and
consolidation of broadband cable TV and Internet businesses in Russia and
former republics of the Soviet Union. Before that, Stevens held positions in
private equity with GE Capital and Toronto Dominion Bank, where he executed and
managed direct investments in media and communications businesses in the U.S.
and Europe.

Bruce Paisner, the executive VP of Heart Entertainment &
Syndication, commented: "We launched Cosmopolitan Television in Spain
several years ago as an experiment in extending the enduring and popular
Cosmopolitan brand to the television medium. We are so pleased with the results
of that channel and our more recent launch of Cosmopolitan Television in Latin
America that we are going to take this franchise to other international
markets. With Nick's international and media transaction background, he will be
a key player in that effort."