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Carey leaves G&J to return to 'The New Yorker'

Published on .

New York--David Carey is returning to his post as publisher of the venerable The New Yorker just six months after he was tapped to become president of Gruner+Jahr USA's new business division, which includes Fast Company and Inc. G & J, a unit of German media conglomerate Bertelsmann AG, paid $550 million for the two titles only to watch their ad pages plummet along with the economy. For the first six months of the year, ad pages for Fast Company fell 47% compared with the same period last year, to 512 ad pages from 968, according to the Publishers Information Bureau. Ad pages for small business bible Inc. dropped 28% during the same period, to 478 from 659. Meanwhile, ad pages for The New Yorker in the first six months of the year dropped 5%, while ad revenues were up 10%.
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