This morning, we announced that Justin Smith, president of Atlantic Media, will be joining the company as Bloomberg Media Group’s CEO, which comprises our television, radio, magazine, conference and digital businesses.
With traditional print and broadcast products accelerating to mobile and online platforms, web video rising as a challenger to television, and more content being distributed directly to end users, tomorrow’s strongest media companies will be those that have the foresight to invest in disruptive tools and ideas today. Bloomberg is already well underway in making these investments, largely thanks to Andy Lack’s tenure as the group’s CEO. Over the past several years, Andy enhanced the quality of our media properties, expanded internationally, and built out services to bring Bloomberg to more people in more places, on more platforms than ever before. We’re fortunate that Andy will be taking on the new role of Chairman of the Media Group
I can’t think of anyone in the industry who is better prepared to take the Media Group to the next level than Justin Smith. At Atlantic Media, Justin spearheaded The Atlantic’s dramatic transformation from a largely print-centric magazine to a digitally-led multi-platform franchise. When he arrived, The Atlantic was a venerable print title that had been declining for many years. He turned it around by disrupting the old models and introducing high growth digital and events properties. He launched several new critically acclaimed disruptive digital platforms, including Quartz, a new global business brand that in 10 months since launch already reached 4.5 million monthly readers. And in the process, he led Atlantic Media to its highest revenue and profit performance in its 15-year history.
The buzz surrounding the announcement has been terrific. For example, Google’s co-founder and executive chairman, Eric Schmidt, told the New York Times that bringing Justin on board is “a serious gain for Bloomberg.”
And Jeff Jarvis writes, “When people ask me for someone smart who’s doing innovate[ive] and successful things in magazines, I scan the known world and always end up at the same place: Justin Smith…” Jarvis calls it a “brilliant hire.”
We agree. As the media industry continues to evolve – and more people throughout the world gain access to new information platforms – we’re excited to see what Justin and our Media Group can achieve.
Contributed by Dan Doctoroff, Chief Executive Officer and President of Bloomberg L.P.