Restructuring breaks VNU into six units
EmptyNEW YORK -- VNU Business Media, a unit of information and media measurement firm VNU Group, said Thursday that it is restructuring into six market-focused groups to become a truly "integrated information and marketing services business."
As part of the shift, the company said its business publications, expositions, electronic media and information marketing arms will no longer exist as separate divisions but will be integrated together into six key market-facing groups. VNU Business Media is the parent company of The Hollywood Reporter and also includes such publications as Billboard, Adweek, Brandweek and Mediaweek magazines.
VNU cited today's business-media landscape for the change, including "new-media platforms, shifting information-consumption habits and an increased emphasis on media measurement."
The new market-focused approach "provides the ability to better serve our audiences and clients by leveraging our market assets collectively and achieving greater back-office economies of scale for all of Business Media," said Robert Krakoff, who joined the company in August as president and CEO of VNU Business Media. "This will also result in stronger brand differentiation, allowing us to create more product offerings and lead to greater revenue growth."
As part of the restructuring, Greg Farrar has been promoted from president of VNU Expositions to chief operating officer of the Business Media division, reporting to Krakoff.
Senior vps, reporting to Krakoff, will oversee the six new market-focused groups.
John Kilcullen, the newly appointed publisher of The Hollywood Reporter, will oversee the film group, including such publications as The Reporter, Back Stage and Ross Reports and Film Journal International, as well as expositions ShoWest, ShowEast, CineAsia and Cinema Expo International. He also will oversee the music group, which encompasses Billboard, Radio & Records, Kirkus Reviews, Bookseller and the Book Standard.
Mike Parker will lead VNU Business Media's marketing group, including such brands as Adweek, Brandweek, Mediaweek, Editor & Publisher and the Clio Awards.
David Loechner will be in charge of the retail unit, Joe Randall will supervise the residential and commercial building design group, and Bill Cooke will lead the marketing services and travel group.