Oct. 31 (Bloomberg) -- Norman Pearlstine, who served as Bloomberg LP’s chief content officer for the past five years, is leaving to rejoin Time Warner Inc.’s magazine division, ahead of a planned spinoff of the business next year.
Pearlstine, 71, will become executive vice president and chief content officer of the magazine publisher, the New York-based company said in a statement. He previously spent a decade at the division, known as Time Inc., before leaving in 2005. At Bloomberg, he spearheaded the company’s effort to revamp Businessweek magazine after it acquired the title from McGraw-Hill Cos. in 2009.
Time Warner decided to split off Time Inc. -- its worst-performing division -- after a failed attempt to merge the unit with Meredith Corp., publisher of women’s magazines such as Ladies’ Home Journal. The spinoff is slated for the early part of next year.
“I am confident Norm -- together with our business leaders and editorial teams -- will develop exciting new content and brand experiences for our audiences that will reinvigorate the franchise and fuel future revenue growth,” Time Inc. Chief Executive Officer Joe Ripp said in a statement.
Pearlstine also previously served as executive editor of the Wall Street Journal. As chief content officer at Bloomberg, he helped to expand the company’s consumer media division, which included its cable TV network and its magazines.
“Norm has been an invaluable adviser to me and our entire leadership team, helping us successfully relaunch Bloomberg Businessweek and start new lines of business that continue to grow,” Bloomberg CEO Dan Doctoroff said in an e-mailed statement. “His impact will last for years to come. We thank him and wish him well.”
Time Inc. also said Martha Nelson will be leaving the company after being appointed as its editor-in-chief 10 months ago. She had been with the company for 20 years. The editor-in-chief job, which Pearlstine held during his earlier tenure at the company, is being eliminated.
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