Michael Klingensmith, who once upon a time was almost CEO of Time Inc., will join AdMedia Partners as managing director.
Klingensmith spent 31 years at Time Inc. where he held positions including CFO and senior vice president of Time Inc. Magazine Company and president of Sports Illustrated. During his tenure at SI, he “was responsible for acquiring and overseeing Time4Media.
In its annual survey published earlier this year, AdMedia found media execs were pessimistic about the economy but the company remained confident that mergers would continue.
M&A firm AdMedia Partners appoints Michael Klingensmith as Managing Director specializing in media and publishing
New York, NY September 12, 2008 â€“ M&A firm AdMedia Partners today announced the appointment of Michael J. Klingensmith as a Managing Director specializing in media and publishing. The former Time Inc. senior executive is joining AdMedia’s merger and acquisition advisors as M&A deals by media companies and magazine publishers continue despite the economic slowdown in 2008.
In Mr. Klingensmith’s 31-year career at Time Inc., he served as general manager of TIME worldwide, circulation director at four different magazines and as Time’s group circulation director. Mr. Klingensmith was the founding publisher and President of Entertainment Weekly, as well as chief financial officer and senior vice president of what was then the Time Inc. Magazine Company. He was president of Sports Illustrated where, under this leadership, the brand broadened its scope in print, television and the web. While at SI he was responsible for acquiring and overseeing Time4Media.