Conde Nast replaces New Yorker publisher

NEW YORK (Reuters) - U.S. magazine empire Conde Nast has replaced the publisher of The New Yorker, as the number of ad pages tumbled during the past year.

The privately held company said Drew Schutte, who had been on the job for a year, will move to the post of senior vice president and chief revenue officer at Conde Nast Digital.

Lisa Hughes, publisher of Conde Nast Traveler since 1995, will take over as publisher of The New Yorker, according to a company statement on Thursday.

Conde Nast named Schutte publisher of the magazine in January 2007. Before that, he had been at Wired, also a Conde Nast magazine, since 1994.

The New Yorker is one of the best-known magazines in the United States, famed for its long feature stories, arts coverage and cartoons that often illustrate the foibles of the moneyed class.

While Conde Nast is not publicly traded, many publishers look to it and others publishers like Time Warner Inc for signs of how the business is faring.

Lately, the news has not been good. Conde Nast last fall said it would publish Portfolio, a business features magazine, 10 times a year instead of 12, and laid off much of the staff at the magazine’s

Last month, Conde Nast said it would kill Domino magazine, which was a home decor title for women.

Reporting by Robert MacMillan; Editing by Gary Hill