Time Warner’s Time Inc has moved around the top ad folks at its “Business and Finance Network” — that is, Fortune, Fortune Small Business, Money and what used to be Business 2.0. They are also renaming it and calling it the “Fortune/Money Group”, which sounds much better to us.
The shuffle, which sort of undoes a 2006 org chart shuffle, means group publishers Michael Dukmeijan and Michael Federle are out. So is group associate publisher Lisa Bentley. A new position, which will oversee all print and digital revenue, has been created but not filled.
AdAge’s Nat Ives has the blow-by-blow, but more importantly, he has the context: Time Inc.’s business titles are in terrible shape. “During the first half of 2007, ad pages dropped 17.5% at Fortune, 18.2% at Fortune Small Business, 25.7% at Money and 34.1% at Business 2.0.” For all the the chatter about Conde Nast’s Portfolio’s launch (guilty as charged!) this is the real disaster story in financial magazines this year. AdAge