September 5, 2012 / 3:25 PM / in 5 years

Former Dow Jones president Todd Larsen lands at Time Inc

(Reuters) - Former Dow Jones & Co president Todd Larsen has been named Time Inc executive vice president and group president of its news and sports group, effective September 17.

Larsen will oversee the business operations of Time Inc titles Time, Fortune and Sports Illustrated. He will report to CEO Laura Lang.

The company confirmed the appointment in a release on Wednesday.

Larsen joins the publishing unit of Time Warner Inc at a critical juncture for the magazine industry as it fights declines in readership and advertising revenue.

One of the key issues that needs to be addressed is how to get people to pay for digital content.

As one of Dow Jones top executives, Larsen was instrumental in developing a pay model for the digital content of the Wall Street Journal, an early adopter of a pay strategy now embraced by scores of newspapers.

“His expertise in developing and nurturing successful paid digital business models and in expanding products internationally will be critical to us as we move our business forward,” Lang said in a statement.

Larsen spent 13 years at News Corp’s Dow Jones and left the company in June after a management shake up by Dow Jones CEO Lex Fenwick.

Reporting By Jennifer Saba; Editing by Bernard Orr

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