 David Carey |
David Carey, who has been president of Hearst Magazines since 2010, announced that he will be leaving his post in the near future. After his successor as president has been selected, he will continue to serve as chairman through 2019.
Carey has been widely credited with keeping Hearst in the top tier of publishing companies. “Under David, we have become a preeminent global digital publishing company while continuing to launch innovative print editions,” CEO Steven Swartz said in a memo to employees.
In January, Carey shepherded Hearst’s acquisition of Rodale, which added such titles as Men's Health and Runner's World to its roster. He was also the driving force behind such print launches as The Pioneer Woman Magazine, a joint endeavor with the Food Network, that he says is approaching a total circulation of 500,000 copies after one year in business.
After starting out at Hearst as one of the founders of Smart Money, Carey went to Condé Nast, where he served as publisher of The New Yorker as well as helping to launch the publisher’s short-lived financial magazine, Condé Nast Portfolio.
Carey’s future plans include returning to school. He will become a fellow in Harvard's Advanced Leadership Initiative, a program that encourages business leaders to address challenges in the social sector.
"We've had eight good years, but a job like this is demanding and not something one should do forever," Carey told Crain’s New York Business. "I decided a year ago this is what I wanted to do."
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.