New Media Unit Is History

Article excerpt

DUE TO THE abrupt resignation of Reuters New Media President Buford Smith in London, the new media unit is undergoing major changes. After 10 years with the company, Smith left to pursue other personal and business interests, according to Bob Crooke, vice president of media relations for Reuters America Holdings, the U.S. arm of the London-based financial information and news company.

There was no comment about the possibility of layoffs.

The component functions of U.S.-based new media operations will be absorbed within Reuters operations. They include the Business information Products Group (designed for the intranet), Online Publishing Business (providing content to electronic publishers like Yahoo), the advertising Group (Ad Value and Aim21 products), the Aqusitions and Investment Group; and the Education Group (Ingenius).

According to a Reuters employee, much of the. infrastructure supporting Reuters New Media will not be needed because the business groups will feed off the parent organizations.

While the entire new media unit will not be moving to London, new faces based there to head up the. reorganization are Geoffery Weetman, managing director of media and new business ventures, and Philip Melchoir, director of media business, who will report to Weetman.

Andrew Nibley, executive vice president of Reuters New Media and based in New York, will keep his title pending the restructuring of U. …