Dan Gross, Newsweek’s economics editor, is leaving the magazine, The Wire has learned. He’s headed to Yahoo Finance.Yahoo has been on something of an editorial hiring spree this year, ramping up its original content efforts. It has been looking for an editor to run a new finance blog for some time.
UPDATE – Gross will not be filling that position, but Yahoo would not confirm what his official title will be. Gross declined to comment.
UPDATE 2 – In July, Yahoo Finance pulled in 41.8 million uniques, according to comScore, far more than any other financial news website. Dow Jones & Company was second, with 17.5 million uniques.
Gross, a former New York Times columnist who also writes Slate’s twice-weekly “Moneybox” column, has been with Newsweek since 2007. He is the latest departure in what media watchers are calling an exodus from Newsweek. The 76-year-old money-bleeding magazine is in the early stages of a major organizational transition as new owner Sidney Harman takes over.
On the print side, Gross’ resignation follows those of national economics correspondent Michael Hirsh, who’s joining National Journal, and international editor Fareed Zakaria (first reported here on The Wire). Zakaria is leaving to write for Newsweek rival Time magazine and to expand his role at CNN.
On the web side, Gross follows Newsweek Digital editor Mark Miller (a 25-year veteran who was also the editorial director of the magazine), Newsweek Digital executive editor Gabe Snyder, and Newsweek Digital general manager Geoff Reiss. More than a dozen others have left in recent months.
Meanwhile, Susanna Schrobsdorff, who had most recently been developing an education vertical for Newsweek.com, has been named interim editor of Newsweek Digital, sources tell us.
Schrobsdorff will helm Newsweek Digital until Miller’s replacement is named, which probably won’t happen until Harman installs a successor to outgoing editor-in-chief Jon Meacham. She’s said to be well-liked among staff.
“She works really well with the reporters,” an insider said. “She will be able to get people motivated into contributing again.”
Harman is expected to let go a few dozen Newsweek employees, though it’s unclear whether that will happen all at once or in waves. Insiders say some staffers have been volunteering for buyouts. And at least three full-time contract employees who work in editorial production have been quietly let go in the past few weeks, according to one source.
Newsweek CEO Tom Ascheim has called a company-wide meeting to be held at the end of next week.
Calls to Newsweek were not immediately returned.
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