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Posts Tagged ‘Laura Lang’

Time Inc. Expected to Cut 500 Staffers

The rumblings of major Time Inc. layoffs started last week. Now — after Joe Ripp announced in a memo that Time Inc.’s brand groups were being eliminated — we have a number: 500. The New York Post reports that’s how many Time Inc. staffers will likely receive a pink slip today.

Time Inc. employs about 7,800 people. Should the 500 number be correct, it will be about the same as the massive cuts implemented by Laura Lang — the publishing house’s former CEO — about a year ago.

An insider told the Post that today was going to be “nerve wracking.” That has to be putting it lightly.

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Lauren Berger Writes New Book for Young People Entering "Real World"

Lauren Berger Welcome to the Real WorldCareer Expert, Lauren Berger, releases her second book, Welcome to the Real World: Finding Your Place, Perfecting Your Work, and Turning Your Job Into Your Dream Career (Harper Business), on April 22nd. In this book, Berger shares everything she wishes someone told her after graduation. Her book is the essential guide to anyone starting their first, second, or third job. She encourages readers to be fearless, step outside of their comfort zones, and go after what they want.

Norm Pearlstine Networks With Bonnie Fuller

LunchAtMichaelsWe’re going to file this week’s lunch in under ‘The more things change, the more they stay the same.’ Aside from a dining room full of the usual Wednesdays at Michael’s suspects, comprised of moguls (Barry Diller), media mavens (Bonnie Fuller, Connie Anne Phillips) and money men who keep the lights on all over town (Alan Patricof), I had an illuminating chat with Donald Albrecht, curator of architecture and design at the Museum of the City of New York and the editor/contributor of the new book, Gilded New York Design, Fashion and Society (The Monacelli Press). We were introduced by Dan Scheffey, who, in his past life, has handled public relations for Disney, Miramax and most recently toiled at Conde Nast. Dan is currently working on Monacelli’s fall book list and is gearing up to launch the Spring 2014 list with Ellen Rubin. When he mentioned Gilded New York to me some months ago, I immediately wanted to know more. Donald, an independent curator specializing in the decorative arts and architecture, joined us to talk about his work on both the exhibition and the book on New York’s Gilded Age of the late 19th century.

Dan Scheffey, Diane Clehane and Donald Albrecht

From left: Dan Scheffey, Diane Clehane and Donald Albrecht

By way of introduction to the period he explained, “The city’s old and new money used architecture, interior design, fashion and events — even lunch and dinners — as markers of status.” See where I’m going with this?  I thought you might.

Donald, who traded his career as an architect to focus on curating exhibitions and writing (“I found working solely in architecture really boring”), explained his love of curating exhibitions as a way of producing “visual culture.” His current exhibition (which shares the same name of the companion book) “Gilded New York” runs through the end of next year and features a stunning collection of objects that lend a window into the fascinating lives of the early swells of New York City whose great fortunes built the vast Fifth Avenue mansions during what was arguably city’s most glamorous era. Among the relics of this bygone age visitors to the museum can see: an ”Electric Light” dress by couturier Charles Frederick Worth dress once worn by Mrs. Cornelius Vanderbilt. The gown (which didn’t really light up) earned its name from the glittering crystals that illuminated the bodice (a newspaper at the time breathlessly reported it had been trimmed in diamonds), Tiffany & Co.’s Bon Bonniere, a miniature purse designed to hold bon bons or small pieces of candy to be discreetly carried so it could be enjoyed while dancing, and a swan-billed flask crafted from engraved glass and silver. The funny thing is I have no doubt any one of the artifacts would be right at home worn by Sarah Jessica Parker or carried by — dare we say it – Kanye West — at the Met Ball, no?

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Joe Ripp to Make $4.75 Million Per Year

Joe Ripp GThe Time Inc. split from Time Warner still hasn’t happened, but when it does, we now know how much Joe Ripp — the publishing house’s CEO — will rake in each year: About $4.75 million. That’s not bad at all.

The New York Post reports that Ripp will get an annual base salary of $1 million, along with a bonus of up to $2.25 million. He’ll also get “make whole grants,” which will be $1.5 million each year.

While Ripp is enjoying his almost $5 million per year, we can assume that Laura Lang, Time’s outgoing CEO, will be loving life as well. She’s still due her $1 million base salary, plus a $1.8 million a year bonus, through 2015.

Paul Caine Sounds Off on Radio’s Next Act

LunchAtMichaelsIt was wall-to-wall mavens and moguls at Michael’s today with EICs of those swanky design books (Architectural Digest, House Beautiful and Veranda) holding court in one corner of the dining room (I guess living well really is the best revenge), while the usual bold-faced names and social swans exchanged air kisses in the other. I was joined today by Paul Caine, CEO of audio content syndicator Westwood One, one of the nicest and most successful guys in the media biz (and I’m sure I don’t have to tell you just how rare a description that is around here). Paul has had himself one heck of a year having joined Westwood One (back when it was known as Dial Global — more on that later) in March from Time Inc., where he was EVP Chief Revenue Officer and Group President.

Since joining the newly christened Westwood One, Paul has been doing what he does best — positioning his brand in the best possible light for prospective advertisers. It was clear from talking to him he’s found a new calling as an audio content advocate. I had to begin by asking Paul why he left the Time Inc. mothership after 23 years and ahead of Time Inc’s planned spin-off  after having had such a successful tenure and largely considered one of its rising stars. He had been responsible for global ad revenue for all of the company’s magazines, including People and Sports Illustrated, while spearheading new initiatives to roll out new ad products across all platforms. His name had been floated in several published reports as a possible successor to Time Inc.’s former CEO Laura Lang (coincidentally the man who got the job, Joseph Ripp, was seated on the other side of the dining room), but Paul told me that when he was first approached in January about his current job, “Initially, I wasn’t interested. I was not looking to leave.”

Diane Clehane and Paul Caine

Diane Clehane and Paul Caine

It was only after talking to advertisers when, during conversations, the question ‘What about radio?’ came up time and again that Paul began to seriously consider making a move.” I had a great time at Time Inc.,” he told me. “The brands are fantastic. (Time Inc. editor-in-chief) Martha Nelson is fantastic and I’m optimistic about their future.” As far as the prospects after the spin-off: “What I know from afar is that they are uniquely positioned to succeed. Print is healthy.”

But audio content is what the future is all about, says Paul, and Westwood One has got over 225 million listeners a week to prove it. “We spend one third of our day listening to audio content — music, talk radio, sports, news.” The company is the only broadcast medium with exclusive rights to the NFL, NCAA, the Masters and EPL (English Premier League soccer) as well as serving as home for the radio broadcasts of John Tesh (who just celebrated ten years with the company), Charles Osgood, Dennis Miller and Billy Bush.  Read more

Joe Ripp Named CEO of Time Inc.

Joe Ripp is the new CEO of Time Inc. Not Michael KlingensmithDavid GeithnerHoward Averill, or Todd Larsenlike the endless rumors had suggested.

Ripp is the current CEO of OneSource, but he is a veteran of both Time Warner and Time Inc. Ripp served as executive VP and CFO of Time Warner, and served as Time Inc.’s executive vice president, chief financial officer and treasurer. He joined Time Inc. in 1985.

In a statement, Jeff Bewkes, CEO of Time Warner, said Ripp “Is respected as a strategic leader who has delivered financial results throughout his career, and he also happens to have a thorough understanding of Time Inc.’s business.”

Michael Klingensmith Could be Named Time Inc. CEO This Week

Time Warner’s search for the next Time Inc. CEO (might!) end this week. Michael Klingensmith — the current CEO of the Star Tribune Media Company — emerged as the frontrunner early this month, and the New York Post reports that he’s expected to nail it down, unless talks suddenly go haywire.

If a deal with Klingensmith isn’t sealed, the rumor is one of three Time Inc. insiders will be named CEO. That lucky (or unlucky, depending on how you look at it) list includesDavid GeithnerHoward Averill, and Todd Larsen.

Meanwhile, Laura Lang, the current Time Inc. CEO, is sitting back in her office like, “Good luck with alllll that.”

Michael Klingensmith Seen as Lead Candidate for Time Inc. CEO

We have a new name to throw into the “Next Time Inc. CEO” hat: Michael Klingensmith. According to The Wall Street Journal, Klingensmith has emerged as the leading candidate to oversee the publishing house when it’s spun off at the end of the year.

Klingensmith is a newcomer to the list of potential Laura Lang replacements. The most recent names considered included David Geithner, Howard Averill, and Todd Larsen — all Time Inc. insiders. However, Klingensmith makes sense, because of his history with the company and his smarts.

According to the Journal’s sources, Jeff Bewkes has said he wants “a real strong finance guy that can help run this company,” (sorry women!) and Klingensmith would fit that role.

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Time Inc. Insiders Seen as Frontrunners for CEO Spot

Months have passed since rumors about who would be named the next CEO of Time Inc. began circulating and yet… Nothing. Jeff Bewkes has yet to name a new head honcho for the company, and Laura Lang — Time Inc.’s current CEO — is like, whatever.

However, if the speculation is correct, the next chief will likely be one of three current Time Inc. executives, and not an outsider, like some had believed. The New York Post reports that the current line of thinking is that if Bewkes doesn’t name someone from beyond the Time Inc. walls by this week, it’ll come down to these three:

  • David Geithner, executive vice president and group president of the Style & Entertainment Group
  • Howard Averill, executive vice president and CFO
  • Todd Larsen, executive vice president and group president of the News & Sports Group

No word on if any of them are excited or scared about this.

Names Emerge in The Hunt for Next Time Inc. CEO

Forgive us if you’ve heard this before, but… Rumors are circulating about who will be the next Time Inc. CEO. According to The New York Post, Jeff Bewkes — CEO of Time Warner — wants to find a replacement for Laura Lang before summer begins, and so some names have been floated:

Please bookmark this post so we don’t have to write a “Rumors of new Time Inc. CEO” post again in about a year.

Time Warner Ends Talks with Meredith, Time Inc. to Spin Off

And just like that, it’s over. Time Warner has ended talks with Meredith regarding merging Time Inc. with the Iowa-based company. As a result, Time Inc. will be spun off into a separate, publicly-traded company. The New York Times reports that the first casualty of the division is Laura Lang, who will leave once Time Inc. once the separation is complete.

Yesterday multiple reports emerged that the deal was almost dead. As much as we joked that the deal wouldn’t get done because of Iowa,  that wasn’t the main sticking point. The merger fell through because Meredith didn’t want to take on Time, Sports Illustrated, Fortune and Money because they’re pretty much money pits and don’t fit well with Meredith’s brand. Understandable.

So the biggest media combo to be discussed in quite some time ends not with a roar, but a few boring statements. Stephen Lacy, CEO of Meredith: “We respect Time Warner’s decision and certainly remain open to continuing a dialogue on how our companies might work together on future opportunities.”

Jeff Bewkes, CEO of Time Warner: “After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc. Time Inc. will also benefit from the flexibility and focus of being a stand-alone company.”

And finally, below is Lang’s memo to Time Inc. staffers.

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