Shakeup At Billboard - Pollstar News

Janice Min, who took the helm of The Hollywood Reporter in 2010 after a stint as editor of gossip mag Us Weekly, is taking the reins of Billboard as its private equity parent, Guggenheim Media, splits Prometheus Global Media into two separate entities.

Min will be responsible for editorial direction of both magazines effective immediately, according to Billboard. Her new title is co-president/chief creative officer of the Entertainment Group of Guggenheim Media.

John Amato will share the co-president title with Min. Both will report to Todd Boehly, president of Guggenheim Partners and chairman of Guggenheim Media.

It was also announced that Prometheus Global Media would be split in two, with Billboard and THR occupying the Entertainment Group and an as-yet-untitled entity made up of properties Adweek, the CLIO Awards and the Film Expo Group.

Min takes on the task of attempting to stanch the effects of the trade’s shrinking circulation and revolving door of editors, according to the New York Times. Its average circulation for the first half of 2013 was 16,524 copies, a steep decline from about 40,000 in the 1990s, the paper reported, citing figures from BPA Worldwide.

“To adapt to the changing music industry, Billboard has expanded its coverage into the periphery of technology, advertising and branding – the source of more and more of the money in music since sales have plunged,” the Times reports.

“The changes at Billboard are part of an effort to expand the company’s footprint in live award events built on well-known media products [like the Billboard Music Awards, the Golden Globes and the American Music Awards] at a time when broadcast television is struggling to attract audiences in real time,” the Times added.

Guggenheim is expected to make the official announcement Jan. 8.

Billboard editor Bill Werde appears to be an immediate casualty as Min takes over editorial direction of the magazine. While no mention of Werde or the current editorial staff was made in either Min’s NYT interview or the magazine’s own announcement, Werde’s Tumblr blog and Twitter posts are definitely those of someone in transition.

“Mine has been an amazing seat from which to watch the entertainment evolve,” Werde posted on his Tumblr blog. “Guggenheim Digital has expressed interest in me working to develop some new ideas within their framework of companies, and I look forward to applying an entrepreneurial approach to the entertainment and media realms that we’ve all spent so much time studying. More soon!”