Time Inc. revamping biz magazine unit

Nat Ives of Advertising Age writes Thursday that Time Inc. is overhauling its business magazine unit, including naming publishers at Fortune and Money magazines. The unit recently decided to shutter Business 2.0.

Ives wrote, “The restoration of the publishing positions, which were eliminated in April 2006 when Time Inc. formed the group by combining the ad sales staffs of Fortune, Fortune Small Business, Money and Business 2.0, means an end to the group publisher spots that had been occupied by Michael Dukmeijan and Michael Federle. Mr. Dukmejian is leaving; Mr. Federle will serve as a senior adviser to Vivek Shah, the group president, until the end of the year. Lisa Bentley, a group associate publisher on the West Coast, is also losing her post.

“Hugh Wiley, who had been group associate publisher at the network, was named publisher of Fortune. Brett Wilson, who had been associate publisher for North America at Time magazine, was named publisher of Money. Alan Ives was named senior vice president of sales at CNNMoney.com, filling a post that had been vacant.

“‘It is an evolution of our approach,’ Mr. Shah said in a statement. ‘Eighteen months ago we made a very smart and bold decision to create a single print sales force and a single digital sales force. That was a streamlined way to do business. We wanted to simplify further and put focus back on the brands.'”

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