Cathie Black's lack of digital strategy wins her 3 more years atop Hearst Magazines

BY LIZ Time Inc CEO Ann Moore may see some signs of hope now that her pal Hearst CEO Cathie Black has signed on for 3 more years. Black whose contract was coming to an end, managed to stay on to lead the company into the "Digital World". Our guess is that the board didn't see anyone inside or outside the company they liked and so by default Black re-landed the gig. But Cathie may be in for her biggest challenge yet. With her new contract it is clear the board and Hearst CEO Frank Bennack are expecting her to deliver digital victory on a silver platter. Can she do it? Well like many of the magazine publishers out there, Hearst has yet to get its footing on the digital field. Cathie is going to have to hunker down and get creative with new ventures and ways to monetize current digital properties or her new 3 year contract could be cut short. Would we be surprised if this new contact says she has to deliver digital success within two years or something like that? Absolutely not. Pull your hair out Cathie. Black, who arrived at the post in the mid-90s, now must bring the venerable US group into the 21st century. Like Ganzi, she is viewed at being slow to develop a strong digital vision. "The company has no digital strategy," said one executive, who has worked at Hearst.Being slow off the mark to capitalize on a digital future may try the patience of the family owned company.