Greg Osberg, the president of Newsweek, and former CNET exec, announced he is resigning from Newsweek. He will leave the company in the early fall.
"I have accomplished what I can at Newsweek and Newsweek.com," he said. "We're the third largest dedicated magazine site with respect to unique users and the largest newsweekly site with respect to ad revenue. Now I'd like to focus on a pure digital play. It's what excites me and what motivates me."
Osberg denied his departure had to do with cost-cutting, or layoffs (Newsweek recently accepted over 100 buyouts), or the changing of the guard at parent company The Washington Post Co. (Katharine Weymouth, granddaughter of the late Katharine Graham was recently named publisher of The Washington Post.
Osberg said he's leaving the company on good terms. Newsweek "has been awfully good to me." Osberg said he didn't have a job lined up.
Newsweek's ad pages through July 14 are down 25.4 percent to 713, reports the Mediaweek Monitor. Rival Time's ad pages through the same period are off 22.9 percent to 947.