It’s shopping time for rival publishers. Time Inc. and Advance Publications last week brought in high-level executives from the outside to search for growth opportunities. While Advance’s Andrew Siegel has a pure M&A focus, Time Inc.’s Randy Rothenberg will play a broader strategic role.
Here’s how they compare:
Title: evp, chief digital officer, Time Inc. Reports to: CEO Jack Griffin
Background: president, CEO at Interactive Advertising Bureau, 2007-2010; before that, seven years as senior staffer, Booz Allen Hamilton; author and journalist
Accomplishments: More than doubled IAB’s revenues and worked toward industry standards for audience measurement; leader in industry effort to combat online-tracking regulation; wrote Where the Suckers Moon: An Advertising Story
Potential acquisition targets: Time Inc. has expressed interest in buying more companies like e-commerce service StyleFeeder, which it bought in 2010, and digital marketing firms.
Mandate: Coordinate strategy for Time Inc.’s scattered digital initiatives; hunt for new revenue streams, including potential acquisitions, at company known for low subscription prices
Old media: 21 years in journalism, including six years as technology and politics editor at The New York Times Magazine
Education: Princeton, Classics major
Title: svp, strategy and corporate development of Advance Publications, parent of Condé Nast and Parade
Reports to: Advance CFO Tom Summer
Background: 14 years in investment banking and M&A; most recently, led acquisitions for Yahoo, General Electric; before, I-banking posts at InVision, Merrill Lynch
Accomplishments: Bought small companies for Yahoo (Associated Content, Citizen Sports), but other sought-after deals didn’t bear fruit
Potential acquisition targets: Will have at least $500 million to play with at the magazine and newspaper publisher
Mandate: As Advance’s first M&A point person, he’s expected to look at everything from digital content creators to marketing agencies to grow the company, where digital efforts have been mostly homegrown.
Old media: College intern at The Chicago Tribune
Education: Syracuse University undergrad; NYU Law