NEW YORK — The rumors swirled two weeks ago that Glenda Bailey might be out at Harper’s Bazaar. Instead, publisher Cynthia Lewis is the one who’s moving on.

Sources said Thursday that Lewis is being shifted to another job in the company within the next two days. She’ll be replaced at Bazaar by Valerie Salembier, who as publisher of Esquire was last night scheduled to appear at the magazine’s 70th Anniversary dinner, and who is a close confidante of Hearst president Cathie Black.

This story first appeared in the February 21, 2003 issue of WWD.  Subscribe Today.

Spokespeople for Hearst declined comment Thursday.

The move comes at a time when Bazaar’s advertising performance continues to drop. For 2002, ad pages at the magazine declined 12.59 percent to 1,436 from 1,642. Its newsstand performance, on the other hand, has shown some signs of a rebound, increasing 13.4 percent in the second half of 2002. Ad pages have further declined in January, February and March, despite the newsstand increase and the fact that competing titles like W, Elle and Vogue are back up in ads.

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