Richard Beckman (pictured) is leaving his post as Condé Nast’s Fairchild Fashion Group’s CEO to become the first chief executive of e5 Global Media LLC, the company that was formed jointly by Pluribus Capital Management and Guggenheim Partners to house the former Nielsen b2b titles that were sold a few weeks ago, the company said in an e-mailed release. e5 Global Media holdings include The Hollywood Reporter, Billboard, Adweek, among others, along with the related expo units. Beckman was previously president of the Conde Nast Media Group for the past five years, before moving to Fairchild last May. In total, he has been with Condé Nast for the past 24 years.
Jimmy Finkelstein of Pluribus Capital and Chairman of e5 Global Media, said that he has known Beckman for a decade. In a statement, Todd Boehly, Managing Partner in the Office of the CEO at Guggenheim Partners, cited Beckman’s track record, which a Conde Nast staffer was marked by an aggressive sales strategy. He was so highly regarded by Condé Nast Chairman S.I. Newhouse, that Beckman was able to keep his position as publisher of Vogue after being involved in a lawsuit regarding an injury to a staffer that he caused during a sales meeting.
Beckman has been able to put that 10-year-old incident behind him. While advertising in general is expected to come back from the downturn of the last few years, the b2b arena that e5 Global Media’s properties operate in is not expected to recover for some time. When the sale was announced, staffers were told that Pluribus and Guggenheim were prepared to invest in the magazine units. If the economy does come back this year, that could support the conference business, which in turn, could make life a little easier for the magazine side.
On the Fairchild side, no replacement for Beckman has been named yet. Release