Editorial moves: former Time Inc. editor-in-chief Martha Nelson joins Yahoo!; Ray Paprocki returns home to Columbus at Publisher
Morning Brief: Lender’s analysis claims Greece’s debt level is unsustainable, while the Greek parliament debates passing new austerity budget as required by the latest agreement
There were a couple editorial hires announced in the past 24 hours, with one long-time print editor moving to a legacy digital media company, and another returning home.
Yahoo! announced that it had hired Martha Nelson as editor-in-chief. Nelson worked for 20 years at Time Inc, where she was founding editor of InStyle and then the editor of People magazine. She was named as the company’s first editor-in-chief, the person responsible for editorial direction before being replaced with Norman Pearlstine at the time of the spin-off from Time Warner. Pearls tine assumed the new title of executive vp and chief content officer.
“As an accomplished editor, proven brand innovator and media veteran, Martha adds to Yahoo’s established media business to continue to elevate our world-class products and journalism,” Kathy Savitt, CMO and Head of Media, wrote on Yahoo’s Tumblr blog.
“In January 2014, we launched our first Digital Magazines and have since built 13 in the United States and 30 globally, which are rapidly rising to the top of their categories. With her proven track record of building successful brands as the founding editor of InStyle and for the growth of People (and People.com) into a globally recognized brand, I’m excited to work with Martha to further grow our Digital Magazines.”
In another hire, former Columbus Monthly editor Ray Paprocki, has been hired as Publisher and General Manager of Dispatch magazines by the Dispatch Media Group, publisher of the Columbus Dispatch. Paprocki left Ohio in 2012 to take the publisher’s role at Gulfshore Life and Gulfshore Business magazines. He was briefly acting publisher at Austin Monthly.
“I am very pleased that Ray Paprocki is coming home to Columbus. During his distinguished career at the helm of Columbus Monthly, Ray earned a reputation as the premier long form journalist in the market and an insightful observer of life in Columbus. At Gulfshore Life he demonstrated his ability as an executive and business leader. He is the perfect guy to lead Dispatch magazines,” said Jim Hopson, Dispatch interim publisher in the publisher’s announcement.
The Dispatch print products were recently sold to New Media Investment Group, formerly known as GateHouse Media.
“This is a great opportunity to help build a group of dynamic brands that can make an important impact through compelling and relevant journalism. The recent purchase of Dispatch Media Group by Gatehouse Media represents a new era and I am excited to become a part of it,” Paprocki said.
Paprocki is native of Columbus native, and a graduate of Ohio State University.
The Greek parliament met yesterday to debate passing new measures demanded as part of the latest debt agreement. But even as the agreement was being debated, an analysis commissioned by the lenders said Greece’s debt was at an unsustainable level.
“The high debt to GDP and the gross financing needs resulting from this analysis point to serious concerns regarding the sustainability of Greece’s public debt,” the report said.
The analysis projects that Greece’s debt will rise to 201 percent of GDP next year and only fall to 175 percent by the end of the decade. Nonetheless, Germany has ruled out a “haircut” for lenders which would lower the overall debt Greece is required to payback.
This saga simply continues on, seemingly without much progress being made.