Head of Print and Digital Sales at Time Magazine to Exit
Moritz Loew, VP-sales and marketing at Time Inc. and a key architect of Time.com's ambitious redesign this year, is leaving the company, Ad Age has learned. His last day is Friday.
A veteran of the digital media world, Mr. Loew led U.S. ad sales for Time magazine in both print and digital. Jed Hartman, group publisher of news and business at Time Inc., confirmed his departure from Time Inc.
An email to Mr. Loew was returned with an automatic out-of-office response.
Time Inc. is the nation's largest magazine company and owner of iconic titles like Time, People, Sports Illustrated, Fortune and InStyle. The company's ad revenue was flat at $428 million in the third quarter, with digital gains helping offset print declines. But the company also revised its revenue outlook downward for the year, largely because of weak print-ad sales at its weeklies.
Mr. Hartman said Mr. Loew's exit is not a reflection of the company's most recent earnings report. Mr. Loew "is leaving to explore the startup world," Mr. Hartman said, declining to elaborate.
He is "very respected for his knowledge of the digital marketplace," Mr. Hartman added.
Mr. Loew's hiring in early 2013 brought digital chops to Time Inc., a company that has sought to radically reinvent itself as more than just a print publisher. Part of that has been a series of splashy redesigns of its largest websites. This year alone, Time Inc. introduced new websites for Time, Fortune, Money and Sports Illustrated. And Mr. Loew was instrumental in the redesign of Time.com, which has posted sharp growth in both traffic and revenue over the last year.
"His fingerprints were all over the redesign," one Time Inc. executive said.
Prior to joining Time Inc., Mr. Loew spent just four months in 2012 as head of sales at The Huffington Post.
Mr. Hartman said he plans to name a successor next month.