Time Inc. Announces Major Reorganization, Creates New Business Unit
Time Inc. Chairman-CEO Ann S. Moore on Friday announced a major company reorganization that includes the creation of the News Business Unit, according to BtoB. The new unit comprises the Time Group, Fortune/Money Group, Sports Illustrated Group, Life.com and GEE (Grupo Editorial Expansion). The moves comes a day after Time. Inc. said that it was shedding 600 employees, or 6% of its workforce. As part of the reorganization, Vivek Shah was bumped up to group digital president of the News Business division from president of the Fortune/Money Group. Mark Ford was named president-group publisher of the new unit, with responsibility for advertising and marketing sales.
Matthew Schwartz is Senior Editor of ScribeMedia.org and host of the WebTV series, From Print to Digital.
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