The New York Post reports that Time Inc. moved Entertainment Weekly's current managing editor Rick Tetzeli upstairs to work on special projects while moving People Executive Editor Jess Cagle into the top post at EW. EW has already shouldered a portion of the recent 600 person downsizing at Time Inc., losing somewhere close to 30 people from its editorial staff of nearly 120 people. If nothing else, the move to bring in a new editor should quell the rumors fanned by media web sites that the company planned to move the magazine into a web-only platform. Its profits declined from more than $50 million to around $10 million last year. For all of 2008, its ad pages were off by 20.7 percent to 1,223, according to Media Industry Newsletter.