Time Inc's Big Reorg Around Video and Events Puts Rich Battista on Track to Be CEO
RICH BATTISTA, EVP OF TIME INC AND PRESIDENT, PEOPLE/ENTERTAINMENT WEEKLY |
Sounds to us like Mr. Battista is being positioned to take the wheel as CEO being that he seems to be the exec who can wring new revenues out of the legacy brands. We wouldn't be surprised if a title change/promotion is announced for Mr. Battista, perhaps President of Time Inc? Executive Vice President Evelyn Webster who many(including us) thought was Mr. Ripp's heir apparent and who oversees the bulk of the U.S. magazines, will see her current portfolio shrink as Mr. Battista takes over some of the magazines under her care.
As for Chief Content Officer Norm Pearlstine, this restructuring is expected to mark the end of his run at the company. A couple weeks ago news broke that he was in discussions to step down. Those negotiations are probably already settled and will be announced as part of the big changes. Mr. Pearlstine's experience is deeply rooted in print and with Time Inc desperately trying to play with the digital media big boys like BuzzFeed Vox, Vice and others, someone with Norm Pearlstine's experience just doesn't fit into the new picture. This also goes for CEO Joe Ripp, hence the rise of Rich Battista.
It is believed the restructuring will lead to some layoffs, but no one knows for sure how many people will be let go. We suspect the print side will be hit the hardest if any layoffs take place.
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Time Inc's Big Reorg Around Video and Events Puts Rich Battista on Track to Be CEO
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July 01, 2016
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