Late word via AdAge that Vivek Shah, credited with much of the success of CNNMoney.com, has been promoted to president of the Time Inc. Business and Finance Network; he has been the network’s president of digital publishing. He is replacing Time Inc. vet Christopher Poleway. The network dates back to April 2006; it combined the ad sales staffs of the four business mags. But, as Nat Ives points out, the joint sales effort has yet to deliver the hoped-for results. Previously, Shah was promoted to president of the Fortune/Money Group in early 2006 after four years as GM.
Updated: The move is “official”, via an internal memo. “Vivek’s broad experience in the digital world will allow us to continue our rapid development of an integrated, multi-platform business and further align the print and digital sides of our organization,” the memo said.
NYP: Fortune has been getting a lot of attention from Time Inc., including a redesign, the use of heavier paper stock and high-priced hires. For its part, Business 2.0 is also under intense pressure to turn a profit, and rumors are swirling that it may ultimately be folded into Fortune or Fortune Small Business, says NYP (I have heard rumors to this effect as well). Also, after the $68 million buy in 2001, the magazine is a long way from seeing any of the investments pay off, hence its status as an endangered magazine, the story says.