BusinessWeek vet John Byrne is jumping ship from the title, a few weeks after being offered a chance to stay under a Bloomberg LP regime.
Byrne said in a memo to employees that he planned to leave after the magazine’s sale to Bloomberg, which is expected to close Dec. 1. He said he planned to launch a new digital media company near San Francisco.
“I’m flattered and thankful that Bloomberg provided me an opportunity to stay with BusinessWeek, but my passion to chase this entrepreneurial venture feels like the right move at this stage in my career,” he wrote in the memo.
Byrne spent 22 years at the title, most recently as executive editor of the print magazine and editor in chief of BusinessWeek.com. His future at a Bloomberg-owned BusinessWeek has been the subject of some speculation.
Observers initially expected him to leave to relocate to San Francisco after his recent wedding there. He also was a key player behind Business Exchange, a social network for businesspeople that some said failed to gain traction.
Yet until a few weeks ago, he was expected to stay on at BusinessWeek even as Bloomberg laid off more than one-fourth of the staff of about 400.
Byrne was seen by some as a contender for the top editor spot at BusinessWeek until that job went to Josh Tyrangiel, the young managing editor of Time.com and a rising star at Time Inc.