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Posts Tagged ‘Jeff Bewkes’

Time Warner Inc. Names Karen Magee Executive Vice President, Chief Human Resources Officer

Photo courtesy of Time Warner Inc.

Photo courtesy of Time Warner Inc.

Karen Magee has been named executive vice president, chief human resources officer at Time Warner Inc. In her role effective January 1, 2014,

Magee will be responsible for the company’s human resources strategy encompassing global compensation, benefits, global organizational and leadership development, worldwide recruitment and executive search, and diversity. Read more

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What Happened To Jack Griffin?

GriffinTime Inc. CEO Jack Griffin was dismissed by Time Warner boss Jeff Bewkes after just five months on the job.

Why?

According to an internal memo sent last night, Griffin “did not mesh” with Time Inc.

There’s no immediate successor, but “an experienced interim management committee” will handle Time Inc in the meantime, composed of Howard Averill, Maurice Edelson and John Huey.

However…..In August 2010, not so long ago, Bewkes called Griffin “an exceptional executive who knows how to expand the reach and relevance of strong publishing brands, and he will be a champion of our high-quality journalism. As CEO, Jack will further advance our lead position in the industry and accelerate the expansion and innovation of our titles on all platforms.”

What a difference half a year makes.

Former Meredith Exec Joins Time Inc As CEO

Former Meredith Corp. National Media Group president Jack Griffin is taking over as CEO of Time Inc., Time’s parent company Time Warner announced this morning.

Griffin will start at the end of September, when current CEO Ann Moore, who has 32 years of service with Time Inc., will retire.

Griffin abruptly resigned from Meredith last week to “pursue another opportunity,” fueling speculation that something of this sort would happen.

Time Warner chairman and CEO Jeff Bewkes said in a statement that Griffin is “an exceptional executive who knows how to expand the reach and relevance of strong publishing brands, and he will be a champion of our high-quality journalism. As CEO, Jack will further advance our lead position in the industry and accelerate the expansion and innovation of our titles on all platforms.”

Time Inc. Update: Buyout Packages, ‘Hard Look’ At Unprofitable Titles, Some Departures

The Time Inc. news is coming in fast and furious.

First: at least there will be decent severance. Both guild and non-guild employees are being offered two weeks’ pay for each year of service, while employees based in New York State will get 13 weeks pay on top of that. (Media Decoder)

Second, though we’d heard that no titles would be closed, Time Warner CEO Jeff Bewkes said during today’s conference call that Time Inc. “will continue to take a hard look at our least profitable titles.” (TheWrap)

And our colleagues at FBNY have found that the American Express-owned custom pub Fortune Small Business is being shuttered, resulting in one person’s loss of a job update: ELEVEN, not one (source) and one freelance writer’s main source of income: Malika Zouhali-Worrall, who says on her web site that she “mainly” writes for FSB and CNNMoney, FSB’s online arm, announced via Twitter that she’s “officially been initiated into the sad world of the dwindling news industry.”

Fourth: Time Inc. has just filed with the New York State department of Labor announcing that it plans to cut 280 people in the state between now and Jan. 31. (Media Decoder)

Fifth (added 2:35 pm): Eighteen people have been dismissed at Essence, including “the entire web team,” we hear. (Source)

Time Warner Inc. Posts 10% Decrease In Profits But Still Feels Like A Billion Bucks

A billion and a third, that is. Time Warner Inc. (TWX) reported a profit of $1.3 billion on revenues of $7.1 billion, leading chairman and CEO Jeff Bewkes to announce that “Time Warner is firmly on track to post solid results this year in spite of the tough economic environment.”

Revenue at Time Warner’s Publishing segment, which includes Time Inc’s 22 magazines and 25 web sites, declined 18 percent to $914 million, mainly because of declines in advertising and subscription revenues, but income fell 40 percent, so despite “better-than-expected” results at Turner Broadcasting & HBO (where revenues rose 5 percent and income grew 3 percent thanks to lower costs), the company will probably still be announcing layoffs at its magazines later today.

Revenues at AOL decreased 22 percent and income fell by half, so Bewkes is probably pretty happy that he’s about to get the online company off Time Warner’s books. And Tim Armstrong, meanwhile, has a big job on his hands…