Time Warner Restructures Business Group

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In an acknowledgement that online and print advertising is undergoing momentous change, Time Warner Inc. is reorganizing its business magazine group. Time Inc. Business and Finance Network is being re-branded as the Fortune|Money Group.

The Fortune|Money Group — which includes Fortune, Money, Fortune Small Business magazines and the CNNMoney.com Web site — will gain a new executive (not yet named) to oversee print and digital revenues across the board. From Reuters:

”The print and digital teams will remain separate, but will be better integrated by having an executive in charge of both, said Vivek Shah, head of the group.

”’It insures that we stay coordinated,’ he said. ‘It also recognizes that the marketplace behaves in many different ways.”’

Hugh Wiley, a 22-year veteran of Time Inc. was named publisher of Fortune and Brett Wilson was named as publisher of Money. Alan Ives, the senior vice president of sales for CNNMoney.com and put him in charge of the group’s digital advertising sales team.