MARTHA BUILDS HER TEAM: Joe Lagani is heading to Martha Stewart Living Omnimedia, as chief revenue officer, a new position. He’ll lead all ad sales, across magazines, Web sites and iPad and iPhone apps and radio platforms. Most recently, Lagani was senior vice president, ad sales, at NBCUniversal/iVillage. He’s also worked at Glam Media and as publisher of Condé Nast’s House & Garden.
Last week, MSLO reported an operating loss of $9.3 million for the third quarter, and revenues in the publishing division were down 3.2 percent to $33.2 million. At the end of October, layoffs hit the company, with many longtime staffers being let go. Sources had placed the pink-slip count at around 60, but insiders insisted it was closer to 20, mostly on the editorial side. Meanwhile, earlier this year, Blackstone Advisory Partners was hired to deal with potential offers from investors. During the first half of this year, newsstand is down almost 5 percent at Martha Stewart Living and ad pages are down about 6 percent through the September issue.
This story first appeared in the November 9, 2011 issue of WWD. Subscribe Today.