Stagwell, which has been expanding
and diversifying its "owned media" portfolio, this morning announced an expansion of its enterprise-level owned media management team, naming publishing industry veterans David Olesnevich and Drew
Schutte chief growth officer and chief revenue officer, respectively.
The newly created positions follow the appointment of Code and Theory's Ben Berentson as CEO of Stagwell Owned Media earlier this year and signal
Stagwell's intent to expand its owned media holdings and marketing.
Late last year, Stagwell took a 25% stake in center-right political news publisher RealClear
Politics and 12 related publications, which already had a long-standing projects relationship with Code and Theory.
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Stagwell's current portfolio also includes ReachTV, a free, ad-supported
streaming network that began life in 2016 as a place-based video programming network in airports and hotels aimed at travelers. Stagwell never announced details of its acquisition, be began
referencing the holding around 2023.
Stagwell announced it had taken a majority stake in travel media and marketing company Ink in 2018. Terms were not disclosed.
Olesnevich joins
from head of product at The Weather Company and previously was a senior executive at Conde Nast and held roles at
Golf Digest,
Sporting News and other publishers.
Schutte joins
from his own consulting firm, but previously served as chief revenue officer of Adweek, and held roles at Details magazine and Conde Nast publications.
Both report to
Berentson.