• Women's Wear Daily, Friday, September 21, 2012 1:43 PM

Hill Holiday CMO Baba Shetty will become CEO of the Newsweek Daily Beast Company in October, according to MinOnline's Bill Mickey. "In a surprising decision, he will report to editor in chief Tina Brown and the company board," writes Erik Maza in Women's Wear Daily. Shetty, who has "a background in digital media," succeeds Stephen Colvin, whose three-year stint during "a turbulent period for newsweeklies" included downward trends like circulation dips, though "ad pages are up by about 2 percent from last year," according to Maza. Colvin is departing for VC Lerer Ventures.

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