Time Inc. has named Fortune Group Publisher Jed Hartman to oversee Time and Money as well in the new role of group publisher of news and business, the company said today.
The move does away with the dedicated publisher position at Time , which had been vacant since Worldwide Publisher Kim Kelleher defected to blog publisher Say Media this summer. Instead, Mr. Hartman will name a VP-sales at Time to lead efforts specific to that title, which has struggled this year. Time ad pages this year through the Oct. 8 issue declined 18.7% from the equivalent period last year, according to Media Industry Newsletter.
Mr. Hartman did not immediately fill the VP-sales post at Time but did name an executive to fill the equivalent, newly created VP-sales at Fortune: Brendan Ripp, a well-regarded executive who has been publisher of Time Inc.'s Money magazine since December 2010. Mr. Ripp was previously publisher at Time but was shifted to Money by the prior Time Inc. regime to make room for Ms. Kelleher. Mr. Hartman will now also name a VP-sales at Money.
"Jed's appointment, and putting this new structure in place, are the first steps in taking our news and business titles to their best position for long-term growth," said Todd Larsen, the former Dow Jones executive named exec VP-group president of news and sports last month, in a statement announcing the changes.
This is only the latest reorganization affecting the news and sports titles at Time Inc., which were split into two groups under CEO Jack Griffin and reunited with Mr. Larsen's hire under new CEO Laura Lang.