Sources: VNU Business Media To Announce Reorganization
Krakoff will follow Advanstar model of organizing by market rather than by media.
A source tells Folio: Alert that VNU Business Media USA CEO Bob Krakoff will soon announce that the company is reorganizing its business around market clusters rather than media. This is an approach pioneered by Krakoff and former Advanstar president and CEO Jim Alic at Advanstar Communications.
Under the Advanstar model, a single executive leads a marketing cluster, with publishing, event and other professional teams reporting to that executive. While Krakoff did not return calls to Folio: Alert by press time, he did indicate a shift in emphasis for VNU Business Media in an earlier interview. “We’re also going to take a step back and look at the company as whole,” Krakoff said at the time. “Right now, VNU is basically run as three separate businesses, AC Nielsen, Nielsen Media Research and the business media side. We want to start looking at the company and ways we can improve profitability within the company as a whole.”
If the reorganization goes through, it’ll be the latest of a number of changes made at the company, which is home to 45 U.S. publications including Adweek, Billboard and Editor & Publisher, since Valcon Acquisition B.V. purchased it in May for $9.7 billion.
Krakoff took over as CEO of VNU Business Media in August, replacing Mike Marchesano, who moved into the newly created role of vice president and chief transformation officer. Soon after, the company announced that David Calhoun, a 27-year veteran and executive at General Electric Company, had been named chairman of the executive board and CEO of VNU B.V.
Folio: Alert reported in August that the company’s European division was on the market. The company this week confirmed it is seeking a buyer for its European group.