Pros
Piggybacks off the "Hearst culture". Strong leadership and willing to promote from within (though station-experience is a must for this). Chairman is one of the most genuine people I've ever met and had the pleasure working for. Solid and personable executives.
Cons
A little bit on the old-school side. Unless you're coming from within the industry or one of their stations, you'll never make it to anywhere near the top. If you don't speak up and force a conversation about compensation, things may never automatically happen. And if you're from NYC, you're most likely limited from moving into a leadership role. Odd as that may seem, it only stresses how much they value station/market experience and aren't open to training from within.