In an uncommon transfer within the publishing world, Atlantic Media tapped Nicholas Thompson, the editor in chief of Wired journal, to be its new CEO after a year-and-a-half-long search.
Atlantic is hiring 45-year-old Thompson — who has spent the previous 15 years as a journalist at Conde Nast publications together with the New Yorker — to deal with the enterprise aspect of its operations, together with income, losses, promoting and subscription gross sales.
Anticipating skepticism from the rank-and-file, Atlantic Media house owners Laurene Powell Jobs and David Bradley made the case for Thompson in a Thursday memo. Powell Jobs heads the Emerson Collective, which purchased a majority stake in Atlantic Media in 2017 from Bradley, who maintained a minority stake and continues to be involved in operations.
“Nick brings a surround-sound protection of related expertise,” Bradley and Powell Jobs wrote. “Having been an editor, he’s dedicated to the undergirding tenets of our work — superior editorial requirements and full editorial independence.”
Bradley is thought for lengthy and thorough searches to fill prime positions at the same time as he acknowledged that he plans to step down from day-to-day operations subsequent 12 months when he sells his minority stake to Emerson.
In his new position, Thompson will substitute Bob Cohn, who introduced his departure in June 2019, efficient in September of that 12 months. Thompson in addition to the Atlantic’s editor in chief Jeffrey Goldberg will report on to the board of administrators.
At Wired, Thompson didn’t strictly dabble within the day by day grind of enhancing copy. He arrange a pay wall on the tech-focused journal throughout his two years as editor in chief. He additionally had performed a key position in organising the paywall at The New Yorker, the place he was the highest digital editor from 2012 to 2017.
Atlantic Media has more and more moved to a mannequin wherein it depends on customers to pay for digital subscriptions, despite the fact that it has mentioned its promoting has held up this 12 months regardless of the pandemic.
After some delays, it instituted a paywall on its digital choices in October 2019 and now has 700,000 subscribers. That push will proceed. The corporate mentioned it has a aim of reaching 1 million subscribers by the tip of 2022.
Additionally on Thursday, Atlantic Media introduced it has tapped Michelle Ebanks, the previous CEO of Essence Communications, to be an outdoor board member of Atlantic Media. The corporate mentioned she is the first outside director and that it expects to call a number of further exterior board members within the new 12 months.