Talking Heds
Hearst Hurt (SCOOP): Two weeks ago, Hearst Magazines named Chris Berend as its first chief content and experience officer, signaling an evolution in editorial direction that would emphasize events as core to the portfolio. In tandem with the appointment, the general managers Ronak Patel and Alicianne Rand, who led the lifestyle and luxury groups, respectively, stepped down, according to a person familiar with the matter. And last week, Good Housekeeping underwent a small round of layoffs that nonetheless represented a substantial cut to its editorial team. The reductions are a rare instance of unease at the privately held company, whose editorial operations are largely subsidized by its unglamorous but lucrative enterprise holdings, which include the bonds grading firm Fitch Ratings. The layoffs also coincide with the announcement from Hearst Corp. that the company is buying out Disney’s 50% stake in A&E Networks for $1.2 billion. Naturally, these two decisions are not explicitly related, but the optics have proven a tough pill internally.
