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Time4 Media President 'Moving on' Following Bonnier Acquisition

Tom Beusse to Be Replaced by World Publications Chief Terry Snow

By Published on .

NEW YORK (AdAge.com) -- Tom Beusse, the president of Time Inc.'s Time4 Media unit, is "moving on" as soon as Time4's acquisition by Stockholm's Bonnier Group is complete, he said in a memo to staff today. Bonnier's new U.S. portfolio will instead have Terry Snow as CEO, the memo said; Mr. Snow is CEO of World Publications, in which Bonnier bought a 49% stake last year.
Tom Beusse: 'There may or may not be the right opportunity for me within a new corporate structure.'
Tom Beusse: 'There may or may not be the right opportunity for me within a new corporate structure.'

Dean Turcol, a spokeman for World Publications, condirmed that Mr. Snow will be named CEO next week. "The new company name has not been decided yet but we're close on making a decision on that," he said. "The rest of the management team will also be named soon."

Mr. Beusse joined Time4 in January 2006; it only took until September for Time Inc. Chairman-CEO Ann S. Moore to put the bulk of his titles on the block. Ms. Moore called the titles strong performers but too small to get the investment they deserved as Time Inc. retooled for the digital future. Stockholm-based Bonnier won the auction last month.

"Throughout the sale process, I have been very upfront with you that as the president of this organization, there may or may not be the right opportunity for me within a new corporate structure," Mr. Beusse wrote today. "That pesky detail didn't distract me from remaining focused over the past few months on securing the best possible steward for these brands and helping transition the company, and all of you, to your new parent."

"I'm sharing with you today that upon the close of the sale, anticipated for March 1, I will be moving on."

Bonnier's top magazines executive, Jonas Bonnier, told Advertising Age after its win that he wasn't certain what would become of the 18 magazines' leaders. "I'm personally and definitely for the first year going to be the working chairman for this division," Mr. Bonnier said. "But the only way to organize a magazine company is to get to know the people who work in the company and build the structure around them. So I'm going to spend the next couple weeks talking to a lot of people at Time4 and the Parenting Group. After that I can tell you more. Before that it's all theories and speculations."

Mr. Beusse did not immediately return calls seeking comment.
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