From: Media Decoder:
The young tenure of Jack Griffin as chief executive of Time Inc. continued to take shape on Wednesday as Mr. Griffin appointed several new senior deputies and split two of the company’s largest magazine segments into separate divisions.
Time Inc. has spun off its lucrative sports unit, which publishes Sports Illustrated, from its news division and created two new entities to be led by executives who will report directly to Mr. Griffin.
“I believe that in the media business today, organizing around market segments and audiences is the right way to do things,” Mr. Griffin said in a phone interview on Wednesday. “So the formation of a discrete sports group and a discrete news group essentially cements that.”
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