After much speculation about how Bloomberg LP’s acquisition of BusinessWeek would affect the magazine’s staff, it looks like editor-in-chief Stephen Adler will be the first casualty of the deal.
Yesterday afternoon, Adler sent a memo to the pub’s staff announcing his plans to depart after the sale to Bloomberg is completed later this year.
“It was hugely important to me to help find the right home for BusinessWeek and to work closely with our business-side colleagues to ensure that staffers would be provided appropriate benefits under any circumstance,” Adler said in his memo. “Now that these goals have been accomplished, I’m considering other opportunities, and I believe it makes sense for a new owner to move forward with a new editor.”
Adler joined BusinessWeek in 2004 from The Wall Street Journal. Under his leadership, the magazine earned over 100 journalism awards. Boasted BusinessWeek‘s media column:
“In the past three years alone, BusinessWeek won 38 major awards, compared to seven at Fortune, one at Forbes and zero at the Economist. More recently, BusinessWeek won the General Excellence SABEW award (Society of American Business Editors and Writers) and its web site won for best in business.”
Although the magazine is rightly very proud of Adler’s accomplishments, his departure clears the way for Bloomberg’s chief content officer Norman Pearlstine — who was named chairman of BusinessWeek following the acquisition announcement last week — to handpick a leader for the new Bloomberg-owned version of BusinessWeek that is to come.
Now, where will Adler end up? We hear BusinessInsider.com is hiring…
Read the full memo here.