Pamela Wasserstein has been named CEO of New York Media, parent company of New York magazine, the Cut, Grub Street, and Vulture, among others, effective May 2nd.
Wasserstein has spent the past year-and-a-half as co-chair and head of strategy for the publishing company, which the Wasserstein family trust has owned since her father, the late Bruce Wasserstein, purchased it in 2004 for $55 million. She succeeds Anup Bagaria, co-managing partner of Wasserstein Partners, LP, who had held the CEO role at New York Media ever since the Wasserstein takeover.
“In recent years it became clear that the company needed an in-house CEO, and we are fortunate to have someone uniquely positioned for the role in Pam Wasserstein,” wrote Bagaria in a prepared statement. “I’m pleased to be leaving the company in such good hands.”
Wasserstein will work directly with editor-in-chief Adam Moss and publisher Larry Burstein as the company seeks to further invest in alternative revenue streams, including its new branded content studio and live events. Two years ago, the company cut New York's print frequency from 42 issues per year to 29 amid declines in local readership, opting to devote more resources to its digital-only verticals. (Overall, print circulation remains relatively healthy, down only about 1.2 percent year-over-year in 2015, according to the Alliance for Audited Media.)
A Wasserstein & Co. trustee, Pamela Wasserstein most recently served as VP of corporate development for Tribeca Enterprises, the company behind the Tribeca Film Festival.
“It’s all family, every aspect of this place," Moss tells The New York Times. "She’s really been kind of one of us for a long time.”