Categories: OLD Media Moves

Staffers told Fortune will explore premium model, have 12 issues next year

Fortune magazine will continue to have 12 print issues next year but will also explore a premium model, staffers were told on Monday during a meeting to discuss its new owner.

Meredith Corp., which acquired Fortune from Time Inc. earlier this year, has agreed to sell the business magazine to Thai businessman Chatchaval Jiaravanon for $150 million. The deal is expected to close next year.

It was announced during the meeting that Lisa Cline, who has been vice president of live media, news and business and previously oversaw Fortune’s live media, has been named the magazine’s chief operating officer.

In addition, Mike Schneider, formerly senior vice president of group director sales, has been named Fortune’s chief financial officer.

Staffers were told that the magazine is also seeking a chief product or tech officer.

CEO Alan Murray, who previously was editor of the magazine, relayed why Jiaravanon wanted to buy the magazine — he apparently read it as part of his course curriculum at USC’s Marshall School of Business and formed an attachment.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

Is this the end of CoinDesk as we know it?

Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

5 hours ago

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

1 day ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

2 days ago

FT hires Moens to cover competition and tech in Brussels

The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…

2 days ago

Deputy tech editor Haselton departs CNBC for The Verge

CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…

2 days ago

“Power Lunch” co-anchor Tyler Mathisen is leaving CNBC

Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…

2 days ago