Mr. Caine will continue to oversee the high-flying People Group, where he was publisher, while adding responsibility for Entertainment Weekly and its website. The company said it plans to name a successor to Mr. Morris in the coming weeks.
Uniting core brands
"By uniting Time Inc.'s core entertainment brands, we will harness their power more effectively, further establishing the presence of our properties in the media community," said Stephanie George, exec VP at Time Inc., in a memo to staff Monday morning. "Over the past year, we have seen considerable benefits to the People Group brands through a joint strategy, and we expect this to increase with the addition of media powerhouse Entertainment Weekly."
Ad pages at EW from January through September fell 9.1% from the same period last year after dipping 7.6% in 2006, according to the Publishers Information Bureau. People, the industry leader in ad pages and estimated revenue, held pages essentially flat through the first three quarters of this year after a 2.9% slip last year.
In his long tenure at Time Inc., Mr. Morris helped start Entertainment Weekly, became its publisher, moved to publisher of Sports Illustrated and returned to EW. Mr. Caine also had a prior stint as EW's publisher.
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Ms. George's memo to staff
October 22, 2007
To: Time Inc. Staff
From: Stephanie George
Re: Staff Announcement
It gives me great pleasure to announce the promotion of Paul Caine to President of the newly formed Time Inc. Entertainment Group. In this role, Paul will continue to oversee the People Group (People, People.com, People en Espanol, and StyleWatch) as well as Entertainment Weekly and EW.com.
By uniting Time Inc.'s core entertainment brands we will harness their power more effectively, further establishing the presence of our properties in the media community. Over the past year, we have seen considerable benefits to the People Group brands through a joint strategy and we expect this to increase with the addition of media powerhouse Entertainment Weekly. Paul will work closely with me, as well as David Geithner, Vice President and General Manager and Nancy Valentino, Vice President, Entertainment Communications Group to take these best-in-class brands to the next level.
An 18-year veteran of Time Inc., Paul most recently served as Group Publisher for the People Group where he helped People take the #1 spot in PIB pages, revenue and share for five consecutive years and win several of the industry's most distinguished accolades including Advertising Age's Magazine of the Year. His contributions to the People Group brands have been enormous.
The creation of the Entertainment Group, with the addition of EW -- the leader in the marketplace for coverage of movies, music and television -- will align these Time Inc. products to best connect advertisers to the entertainment enthusiast consumer. As EW's former Publisher, Paul is no stranger to the brand and he shares its passion and excitement.
I would also like to announce that after 21 years at Time Inc., Dave Morris has decided to leave the company to pursue other opportunities. Dave's substantial contributions to Time Inc. include ad sales at People, helping to launch EW and later serving as its Publisher, taking the helm as Sports Illustrated's Publisher and most recently as President and Publisher of EW. He leaves the brand in the very capable hands of Associate Publishers Dan Spaeth and Peggy Mansfield and General Manager Nancy Ryan. We look forward to announcing a new Publisher of EW in the coming weeks.
Please join me in congratulating Paul on this well-deserved promotion, and in wishing Dave much success in his future endeavors.