Condé Nast, one of the last large magazine-publishing companies still standing, today named Roger Lynch, a former CEO of Pandora and top executive at Dish Network, as CEO, replacing Bob Sauerberg.
Lynch takes over on April 22nd, and will become the first global CEO of the company, running the combined Condé Nast US and Condé Nast International.
The company, whose gold-standard magazine brands include Vanity Fair, Wired, GQ, and the New Yorker, has been struggling against the same massive economic headwinds facing all print-oriented media companies as ad revenue declines and readers consume information in new ways and on different platforms. The U.S. operation was reported to have lost $120 million in 2017, and was seeking to cut that number in half in 2018. The international business, with revenue for 2016 reported at more than $500 million, was also said to be losing money.
The announcement of Lynch's appointment was made by CN board members Jonathan Newhouse and Steve Newhouse. The Newhouse family owns Condé Nast, among other media holdings. Lynch also will join the board. Jonathan Newhouse, who has led Condé Nast International since 1990, was named board chairman.
“After conducting a thorough search for an executive to run the combined Condé Nast US and Condé Nast International, we believe Roger is the right person to lead Condé Nast during our new phase of global integration, growth and transformation," Jonathan Newhouse said in a statement. "Roger is a transformative leader with significant international experience and a proven track record building companies at the evolving intersection of media and technology."
Steve Newhouse added, “What impressed us most about Roger was his passion for great journalism, magazines that make a difference, and brands that have exceptional potential for growth. Roger will build on the outstanding work of Bob Sauerberg and Jonathan Newhouse in extending our print brands into digital video, data and experiences."
The company also said Sauerberg will be leaving the organization with Lynch's appointment. He had been with Condé Nast for 18 years, the last three as U.S. operations CEO.
Lynch served for just over a year as CEO of Pandora, the streaming music service, departing in February of this year. Before that he was CEO of the OTT television service Sling TV. He earlier served as Executive vice president for advanced technologies at Dish Network. Lynch was also an investment banker with Morgan Stanley, specializing in technology, and a member of the physics technical staff at Hughes Aircraft Company. He holds an MBA from Dartmouth College and a BS in physics from the University of Southern California.
“I have long admired the extraordinary, award-winning content produced by Condé Nast,” said Lynch in the statement. “The company is home to some of the most culturally-significant and iconic media brands in the world. As a newly combined global company, we have the opportunity to accelerate the evolution of the consumer experiences and value we deliver to our audiences and partners around the world. I’m very excited to work alongside the talented, passionate and creative team at Condé Nast as we drive the next phase of the company’s growth.”
