Brian Fuller’s blog on the state of media and communications

Aftermath of the Weitzner move at CMP

Posted on | November 4, 2007 | No Comments

So it was pointed out quickly by former colleagues that United Business Media stock jumped at the news that Steve Weitzner moved aside as CMP CEO. Don’t care. All of CMP could go up in a hideous conflagration and the stock would go up. It doesn’t matter what does or doesn’t make sense in the stock market (to a certain degree). Weitzner’s absence isn’t a cause for shareholder celebration just as it isn’t a cause for shareholder mourning.
Here’s an excerpt from Weitzner’s note to the staff, as reported on minonline.com.

I am going to turn my attention to a part of the CMP growth plan that has recently begun to heat up—our international expansion in India, China, Europe and elsewhere. Our portfolio has changed radically and that offers us many new opportunities to grow overseas. I look forward to watching CMP blossom on the growth platforms we have all worked so hard to establish.

Lou Covey let us know in no uncertain terms that it may not be a bad thing that Weitzner is moving aside. I don’t agree with his logic when it comes to the trajectory of EE Times. Girish Mahtre and Weitzner rode on the shoulders of so many others who put Times in a position to jump to No. 1 in the industry. They understood the audience and they understood the advertiser. Weitzner moved up, leaving Times at the onset of the crazy 1990s where growth was unbelievable. Today, a kind of insanity rules. The advertiser thinks it knows where the world is moving and is trying to go where the audience isn’t. The audience remains with established brands, even as it dances with pure-play online blogs and sites.
The Weitzners of the world work in a tough time. Lou Gerstner and Jack Welch would have a challenge running a publishing company today.
Meanwhile, all is not so bad in London, headquarters of UBM. If you’re feeling stressed, a company called Relaxa will be providing acupressure or Indian head message to the afflicted this week. It’s Tuesday and Thursday if you’re around.

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Related posts:

  1. Weitzner lands at Ziff-Davis Enterprise
  2. CMP CEO could be named soon; Weitzner reorgs ZDE
  3. Weitzner moves aside as CMP CEO
  4. Steve Weitzner, Tomb Raider?
  5. Love newspapers? Move to the Middle East

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    July 31st, 2008 @ 12:44 am

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