The Newsweek Daily Beast Co. has named a new CEO as Barry Diller’s IAC forges a new path for the news outlet and faces fresh questions about its future. Baba Shetty, chief strategy officer/chief media officer at the ad agency Hill Holiday, is now CEO of NewsBeast, replacing Stephen Colvin, who had been with the Beast since its early days in 2009.
Shetty worked with Newsweek in the spring on its well-publicized '60s-style "Mad Men" issue, but curiously, he doesn't have a publishing background; before Hill Holliday, he had stints at Fallon Worldwide and BMW.
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