Most media-y school system trade ever! Klein will become an executive vice president at News Corp, where he'll no doubt be advising Rupert Murdoch on how to hit it big in the for-profit educational marketplace. Cathie Black, the head of Hearst and former publisher of USA Today, takes his place. "She has enormous experience managing budgets," said Mike Bloomberg, which is kind of a middling compliment, considering the scope of her job.
Hearst CEO Frank Bennack told employees , "Cathie joins me in the belief that David Carey and the rest of the fine management team at Hearst Magazines are up to the task of moving that important part of our business forward in the months and years ahead. Cathie's handling of the transition with David, which admittedly we expected to take place over a longer period of time, has been exemplary and he is ready to lead." That's David Carey, who left Conde Nast
to run Hearst's magazines earlier this year.
Hope you've gotten adjusted quickly, David! Joel, try not to sell out everything you ever stood for...not all at once, at least. And Cathie, good luck. You'll need it. Hope it was nothing we said.