BOWING OUT: At least one executive from Time Inc. is leaving the company of her own volition: co-chief operating officer Nora McAniff will step down from her post as of March 1, a move unrelated to the impending 289 layoffs at the company. McAniff, who has been with the company for 25 years save for a short sabbatical in 1992, stressed the move was for personal reasons. “I had been thinking about this for six months,” she said. “I just want to do something different. I’m young, I’m 48 and I have a lot left in me. I want to try something new, and I don’t know what that newness is.” However, she said her next move most likely won’t be in magazines.

McAniff has served in her current role since December 2005, sharing the title with John Squires. With her departure, Time Inc. chief executive officer Ann Moore has dropped the position of co-chief operating officer to create four executive vice presidents: Squires will become executive vice president, but have seniority of the four. A spokeswoman for Time Inc. emphasized Squires’ move is not a demotion. “John Squires is still the obvious heir apparent to Time Inc. chief executive officer Ann Moore.” Could that be another reason why McAniff felt now was a good time to leave?

Stephanie George, president of In Style, Real Simple, and Essence, and IPC chief executive officer Sylvia Auton were promoted to executive vice presidents. George will now have oversight of corporate sales and marketing, and the business sides of the People Group and Entertainment Weekly in addition to her current role, while Auton will add responsibility for Southern Progress Corporation and the business sides of All You and Life to her current duties. The three join current executive vice president Mike Klingensmith.

On an unrelated topic, the spokeswoman — without even being asked — volunteered that People and Entertainment Weekly were not merging. Which caused WWD to ask: Are they? All the spokeswoman would say was, “There are no further changes to announce at this time.” —Stephanie D. Smith

This story first appeared in the January 29, 2007 issue of WWD. Subscribe Today.

FORTUNE’S SMILE: Publishers often bend over backwards to give their advertisers so-called added value, but the bargain apparently struck by Fortune and American Century Investments shows a little more “synergy” than usual. Starting last September, five of the six times ACI bought ads in the magazine they were adjacent to older articles from fellow Time Inc. publication Business 2.0. Some of those stories originally appeared as much as five months back. The advertisements were for a partnership with Lance Armstrong‘s Livestrong charity, and each article focused on socially conscious dimensions of business, labeled as a “Giving Back” column that has not since reappeared in the magazine. (The sixth article, about charitable investing, was written by Ellen McGirt, a Fortune writer now following Robert Safian to Fast Company).

Besides those occasions, Fortune has never repurposed Business 2.0 content since its parent company bought the magazine in 2001. None of its competitors appear to have offered ACI adjacencies in 2006, nor did fellow Time Inc. titles Sports Illustrated and Time.

Fortune and Business 2.0 became that much closer last April when they were united, along with Money, Fortune Small Business, and CNNMoney.com, under the Business and Finance Network, with a single sales force under the leadership of Chris Poleway. Repurposing content across magazines to maximize advertising opportunities would seem like a natural way for a publisher to shore up some pages (Fortune’s were down 6.4 percent last year), but Poleway initially denied the ACI adjacency was an example of any such strategy, saying the editorial decision came first. However, in a second interview, Poleway conceded there had been publishing side initiative.

Josh Quittner, managing editor of Business 2.0, said he had been frequently approached by the business side on this front — but that he found the process sound, as managing editors had the final call about any content that went into their magazines. “We’re the stewards of our readers,” he said, adding, “We don’t want the magazines to look like Whitman’s Samplers of all the business magazines at Time Inc.” Eric Pooley, managing editor of Fortune at the time, did not respond to requests for comment. But a rival business magazine editor mocked the content sharing arrangement: “They couldn’t muster the effort to gin up 500 fresh words?” — Irin Carmon

VISIONS OF AMBER: Stella McCartney has wooed Amber Valletta away from Tinseltown — where she’s making her mark as an actress — back to the fashion glossies. Valletta will be featured in McCartney’s spring ad campaign, shot by Inez Van Lamsweerde and Vinnodh Matadin at London’s Number Eleven Cadogan Gardens hotel in November. “As far as I’m concerned, it’s time for a bit of Amber,” declared McCartney, who assisted on the shoot while she was eight months pregnant. Valletta replaces Kate Moss, who has appeared in past McCartney campaigns. The ads, art directed by M/M Paris, will break in WWD during New York Fashion Week, and in the March issues of American Vogue, Pop, Another Magazine, Vogue Italy, and W. — Samantha Conti

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