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Shah succeeds Poleway as president of Time Inc. Business and Finance Network

Published on .

New York—Chris Poleway is out as president of Time Inc.’s Business and Finance Network and has been succeeded by Vivek Shah, according to an internal announcement distributed Friday by Time Inc. Exec VP John Squires.

Shah was previously president of digital publishing for the network, where he oversaw all digital media for CNNMoney.com

Poleway will be pursing other opportunities within Time Inc. and parent company Time Warner, according to the memo.

The Business and Finance Network, which includes Business 2.0, CNNMoney.com, Fortune, Fortune Small Business and Money, was formed in April 2006 to increase advertising efficiencies. Yet the magazines continue to struggle.

Ad pages for Business 2.0 fell 21.8% in the first quarter compared with the same period in 2006, according to Publishers Information Bureau, while ad revenue dropped 16.7%. Ad pages were off 12.9% for Fortune, while ad revenue fell 5.4%. Ad pages for Fortune Small Business dropped 6.4%, and ad revenue decreased 8.2%.

Money had the most significant drop in business, with ad pages down 33.2% through the first quarter and ad revenue off 22.9%.

—Matthew Schwartz

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