Harold Shain Returning to ‘Budget Travel’

Former Newsweek Inc. president Harold Shain is returning to Arthur Frommer’s Budget Travel as chairman, while Newsweek, a Washington Post Co. subsidiary, completes its sale of the magazine to Fletcher Asset Management.
 
Shain had retired at the end of 2008 as CEO of Budget Travel. The title’s new owner plans to retain the senior management team, which includes Nancy Telliho, president; Bernadette Haley, publisher; and Nina Willdorf, editor.
 
The sale was announced in December following speculation that the magazine might be sold or shut down.