Bloomberg Businessweek has poached another Time Inc.-er, naming Fortune publisher Hugh Wiley to head up sales there as the title competes more aggressively for business news readers.
Wiley’s departure wasn’t unexpected. A few months ago, Jed Hartman, former publisher of The Week, was named group publisher for Fortune and CNNMoney, a new position between Wiley and News Group president Mark Ford. Hartman continues to oversee ad sales for both brands.
As Businessweek publisher, Wiley will replace Jessica Sibley, who was one of the last remaining executives from the pre-Bloomberg LP regime until she jumped to The Week just days ago. He’ll report to Businessweek president Paul Bascobert, himself a recent hire, from News Corp. He’ll start in his new role on June 28.
Wiley’s counterpart on the editorial side, editor Josh Tyrangiel, also is a Time Inc. vet, having worked his way up the ranks at Time magazine.
Wiley, who has held a number of sales roles at Time Inc.’s business titles, brings strong knowledge of the competition well along with relationships with business-category advertisers—experience that will be key to Bloomberg’s efforts to improve Businessweek’s competitive position and erase steep losses there.
While its two chief competitors, Fortune and Forbes, have scaled back their frequency this year, Businessweek has made a push in the other direction as its new owner uses the print platform to gain more exposure for the Bloomberg brand.
As part of that push, the 917,568-circ Businessweek has doubled the number of stories and added 20 percent more pages and color-coded sections effective with an April makeover.
Businessweek’s year-on-year ad-page growth has trailed the business magazine category, but is showing improvement. Pages were down 7 percent through its April 14 issue, to 438. Fortune was down 0.5 percent to 642 through June 14, per the Mediaweek Monitor.