The Business and Finance Network was formed in April 2006 when Time Inc. combined the ad sales staffs of Fortune, Money, Business 2.0 and Fortune Small Business magazines. The idea was to increase efficiency -- a constant priority at Time Inc. -- and facilitate the creation and execution of multi-book, multi-platform ad programs.
But ad page sales have been brutal since then. The number of ad pages fell 17.4% at Fortune through the June 25 issue this year, 23.2% at Money through the July issue, 37.2% at Business 2.0 through July and 20.7% at FSB through its July/August issue, according to the Media Industry Newsletter. It's not easy out there for any business magazine, but growth-obsessed Time Inc. is not a company to countenance contraction for long.
Mr. Shah, who has had great success with the CNNMoney.com site, is now charged with turning things around across the entire business and finance network. Mr. Poleway, a Time Inc. veteran who joined the company in 1988, is looking for other opportunities within Time Warner.
Mr. Poleway, Mr. Shah and Time Inc. could not be reached late today.