Daily Beast to Be Led by Ex-Disney ABC TV Chief Ben Sherwood, Former Hearst Content Boss Joanna Coles in Deal With IAC
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variety.comTodd Spangler NY Digital Editor Ben Sherwood and Joanna Coles inked a deal to lead IAC’s The Daily Beast, under which the media veterans have been granted a minority stake in the news and opinion site.
Effective immediately, Sherwood — one-time president of the Disney ABC Television Group — will serve as The Daily Beast’s publisher and CEO.
Coles, previously Hearst Magazines’ chief content officer, is the site’s chief creative and content officer. The duo will “share a substantial interest in the company,” IAC said, but specific financial terms of the deal were not disclosed.
Sherwood and Coles will own about half the equity in The Daily Beast, while IAC will retain majority ownership control, the New York Times reported.
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