• New York Post, Tuesday, January 13, 2009 9:30 AM

Despite digital disappointments, Cathie Black, 64, is re-upping as president of Hearst in a three-year contract. She will continue to lead the ad-challenged publishing group that includes Good Housekeeping, Cosmopolitan and O, the Oprah Magazine.

Black, who has been president since the mid-'90s, must bring the group into the 21st century, even though she has been slow to develop a strong digital vision. Last year, the company derived about 6.5% of its estimated $2 billion in revenue from the Web. That lags the 10% that Time Inc. is notching.

For now, however, Hearst seems convinced that change in leadership is not warranted. "Cathie Black is truly creating the magazine company of the future," says a company rep.

Read the whole story at New York Post »