It’s been a roller coaster for BusinessWeek since Bloomberg LP bought it in October. After a slew of layoffs and high level voluntary departures, the new Bloomberg BusinessWeek has finally hit newsstands and now the magazine has a new president.
Today, Bloomberg announced the appointment of Paul Bascobert as president of the new Bloomberg BusinessWeek, replacing Keith Fox, who announced in October that he would be staying at former BusinessWeek publisher McGraw-Hill after the magazine moved to its new owner.
Bascobert joins the magazine from News Corp.-owned Dow Jones & Co., where he was chief marketing officer for the company’s Consumer Media Group. He’s had a unique path for a media executive, starting his career as an engineer at car manufacturer GM, and moving on to work in operations, sales and marketing for a number of companies before joining Dow Jones in 2006.
“Within Dow Jones, Paul is known as a collaborative manager who has driven growth across multiple platforms and business units while controlling expenses,” said Norman Pearlstine, Bloomberg BusinessWeek‘s chairman. “His impressive accomplishments coupled with his vision make him Bloomberg BusinessWeek‘s ideal leader.”
Full release after the jump
Paul Bascobert Named President of Bloomberg BusinessWeek
Bascobert to Drive Financial Growth, Increase Market Presence, and Build Global Audience
NEW YORK, Dec. 7 — Bloomberg L.P. today announced that Paul Bascobert has been named president of Bloomberg BusinessWeek, effective January 4, 2010. In this capacity, he will be responsible for the strategy, revenue, and operations of Bloomberg BusinessWeek and for driving financial and circulation growth. He will report to Daniel L. Doctoroff, president of Bloomberg L.P.
Bloomberg acquired BusinessWeek from The McGraw-Hill Companies, Inc. December 1. Bascobert succeeds Keith Fox, who, as previously announced, will remain a McGraw-Hill employee.
Bascobert, 45, will join Bloomberg BusinessWeek from Dow Jones & Company, a division of News Corporation, where he serves as chief marketing officer for the Consumer Media Group. He is responsible for increasing circulation and creating new revenue opportunities for The Wall Street Journal, Barron’s, WSJ.com, MarketWatch.com and Barrons.com. He is credited with helping the Journal become the newspaper with the most paid circulation in the U.S.
Bloomberg L.P. Chairman Peter T. Grauer said, “We are delighted that Paul is joining Bloomberg and look forward to his many contributions. Under his leadership, we expect the business to grow and know that our global customers will be better served through strong alignment between Bloomberg BusinessWeek and our television, online and mobile properties, and the BLOOMBERG PROFESSIONAL service.”
Doctoroff said, “As we look to grow Bloomberg BusinessWeek’s market presence and its audience of business decision makers, Paul’s leadership and experience will be invaluable. His circulation and operations expertise, coupled with his ability to create innovative new models and advertising opportunities, will guide the future of the brand.”
Paul Bascobert said, “At a time when other media businesses are retrenching, Bloomberg is committed to leveraging its global news infrastructure to make Bloomberg BusinessWeek the most essential resource for business executives. I couldn’t think of a better time to be joining the company.”
Prior to his current role, Bascobert served as senior vice president, operations for the Dow Jones Consumer Media Group where he streamlined business practices for all operational aspects of the billion dollar consumer business. In this capacity he also oversaw IT, customer service, manufacturing, and distribution, as well as financial and operational accountability for 17 U.S. printing plants. Prior to joining Dow Jones in March 2006, Bascobert held leadership positions in operations, sales, and marketing for Exchange Solutions Inc., Braun Consulting and Vertex Partners. He began his career as a systems engineer at General Motors Corporation.
Bascobert holds a BS in Electrical Engineering from Kettering University and an MBA in Finance & Marketing from The Wharton School of the University of Pennsylvania.
“Within Dow Jones, Paul is known as a collaborative manager who has driven growth across multiple platforms and business units while controlling expenses,” said Bloomberg BusinessWeek Chairman Norman Pearlstine. “His impressive accomplishments coupled with his vision make him Bloomberg BusinessWeek’s ideal leader.”
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