The William Randolph Hearst Foundation and the Hearst Foundation Inc. established the Randolph A. Hearst Broadcast News Scholarship Fund. UF's College of Journalism and Communications is one of only 10 university journalism schools to receive an endowment from this organization.

Son of billionaire media mogul William Randolph Hearst, Randolph A. Hearst was born in 1915. After graduating from Harvard University, he continued the family tradition and began working for one of his family's newspapers in 1939. After his father's death in 1951, Randolph served as president and CEO of Hearst Publishing and Hearst Consolidated Publications. During his time as president and CEO, the Hearst company became one of the largest privately held business entities in the United State