Where’s Waldo?

…off to Politicker, that’s where. Politico associate publisher Waldo Tibbetts is leaving the Capitol Hill newspaper to become the executive vice president and associate publisher of the Politicker publications.

The paper is conducting a national search for a general sales manager who will oversee its operation, including a new national brand sales unit and an expanded marketing department.

One Politico’r says that the paper is now profitable on a monthly basis and will soon launch “Politico Network,” a vertical network that will offer political content in exchange for the right to sell the revenue of other national newspaper sites.

John Harris and Jim VandeHei’s internal memo, obtained by FishbowlDC, after the jump…

    Waldo Tibbetts, who has been associate publisher of Politico and the leader of on-line advertising, is moving on.

    He’s got what sounds like a very interesting opportunity as executive vice president and associate publisher of the Politicker publications, run by the Observer Media Group.

    We’ve been the beneficiary of the New York Observer’s uncanny ability to find and nurture talent – both Michael Calderone and Ben Smith are veterans – and we can’t really complain when they put us in the position of returning the favor.

    The Observer Group has a goal of establishing 50 state-specific sites on politics. So its interest in Waldo and his expertise is obvious.

    Waldo has our thanks – and publisher Robert Allbritton’s as well – for the work he did at Politico. Everyone on the sales staff has benefited from his understanding of the Web. Politico’s bottom line has benefited, too – our web revenue is growing at a rapid pace and has made us a dominant player in our Washington competitive space. He reliably hit and exceeded the company’s very ambitious targets for web revenue.

    The sales team is well-positioned to continue this record. As we announced earlier, Michael McGrath recently was promoted to vice president, putting a special emphasis on building our relationships with top advocacy advertisers. Under Mike’s leadership in recent months, Politico’s revenue has grown at a steady clip. Our business future has never looked brighter – important to all of us because first-class journalism depends on a robust business model.

    Robert and CEO Fred Ryan are currently looking for the right person to join Politico as general sales manager, overseeing a sales force that continues to grow.

    Waldo, in addition to his business instincts, also brings a restless intellectual streak to his work, thinking and talking about where the Web is going and serving as an ambassador to other media executives, political and public policy advocates and technology experts.

    We are glad for his time at Politico, and wish him well as a colleague and now competitor during a very exciting time in this business.

    John Harris

    Jim VandeHei