OLD Media Moves

Money ME leaving in advance of Timc Inc. purge

November 6, 2008

Jeff Bercovici of Conde Nast Portfolio reports that Money magazine managing editor Eric Schurenberg is leaving the personal finance magazine later this month as parent Time Inc. prepares to trims costs by laying off journalists, potentially as soon as next week.

A memo that Bercovici posted from Time Inc. editor in chief John Huey stated, “A fixture of Time Inc.’s business and investing coverage for more than two decades, Eric joined the company as a reporter working for Time Life Books. He worked at a full range of Time Inc. titles including Life, Fortune and Business 2.0; he even spent a year outside Time Inc. launching Goldman Sachs’ website for investors, until he realized he was unhappy as anything but a journalist. Still, he spent most of his Time Inc. career where he ended it–at Money. As a writer at Money, Eric won a Gerald Loeb award for Excellence in Business Journalism for his investigation of AARP and a National Magazine award for Personal Service (on how to handle the last market crash). And as the magazine’s Managing Editor, Eric has taken home our own Henry Luce Award for Personal Service three years running.

“The advertising climate has been difficult for business and finance magazines in recent years, but Eric has held up the readers’ side of the bargain with great success. He came into Money as ME with a vision for a friendly, accessible personal finance magazine that was both informative and a lively read — and he delivered on all counts. The redesign he oversaw in 2005 was highly successful; Min Magazine named it the ‘Magazine Reinvention of the Year.’ And he is leaving Money at five-year highs in reader satisfaction and definite renewal intentions.”

Read more here.

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