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The Atlantic, the 163-year-old publication that has grown under the direction of Laurene Powell Jobs, announced Thursday that it has selected a new chief executive after a year-long search: Nicholas Thompson, editor-in-chief of Wired, the magazine technician specialist published by Condé Nast.
It is unusual for a journalist to take over the business operations of a media outlet, but Ms Powell Jobs, of whom Emerson Collective has a controlling interest in The Atlantic, and David G. Bradley, a minority owner, said in an e- Joint mail to staff that Mr. Thompson was up to the challenge.
“Nick is singular; we haven’t seen anyone like him, ”wrote Powell Jobs and Bradley. “As for leading and supporting the Atlantic Strategy, Nick brings surround sound coverage of relevant experience. Having served as an editor, he is committed to upholding the fundamental principles of our work – superior editorial standards and complete editorial independence.
Mr. Thompson, 45, spent 15 years working as a writer and editor for Condé Nast publications, including The New Yorker, where he was the senior digital editor from 2012 to 2017. In an interview, he said said he spoke with Atlantic Editor-in-Chief Jeffrey Goldberg about the future of the publication, including a talk that took place at a social distance meeting in Mr. Thompson’s backyard in Brooklyn an evening this week.
“Nick is one of the great innovators in journalism,” Goldberg said in a statement, “and I have no doubts that he will guide this company into a new era of subscription and reader growth, technological creativity and of commercial success. ”
The Atlantic’s search for a CEO began last fall, after its former chairman, Bob Cohn, left the publication. It involved two research firms and included hundreds of applicants. Mr. Thompson, whose CEO position is slated for February, and Mr. Goldberg, who is the first editor since 2016, will both report to the publication’s board.
The new chief executive said he read The Atlantic while growing up near Boston, where the magazine, founded by New England thinkers like Ralph Waldo Emerson, was headquartered before moving to Washington at the time. where Mr. Bradley was the sole owner.
Mr Thompson, who became editor-in-chief of Wired in 2017, noted that he instituted digital payment walls at The New Yorker and Wired during his tenure at those publications. “If you asked me what I’m most proud of since my time at The New Yorker,” he said, “it helps build a pay wall that will make the future of the New Yorker stronger.”
In a 2019 article for Wired, Mr Thompson argued that persuading readers to pay for articles is good for journalism, as well as a publication’s chances of making money. “When your business depends on subscriptions, your economic success depends on posting content your readers love – not just the stuff they click,” he writes. “It’s good to align your economic and editorial imperatives!”
Prior to entering journalism, Mr. Thompson worked as a street musician in New York City and released three albums of acoustic guitar instruments. He is also the author of the 2009 book “The Hawk and the Dove”, a double biography of Cold War personalities George Kennan and Paul Nitze (who was Mr. Thompson’s maternal grandfather).
During his time as digital editor of The New Yorker, Mr. Thompson became a media entrepreneur, helping to found The Atavist, a digital publishing and magazine company which was later sold to web publisher Automattic. .
As the editor of Wired – which debuted in 1993 as a publication known for its embrace of all things tech – he led often critical industry coverage, including a 2018 coverage. , co-authored by Mr. Thompson and Fred Vogelstein, on the turmoil inside Facebook. The cover image was a photographic illustration of a bruised and beaten Mark Zuckerberg.
“I wanted to cover technology in the smartest and fairest way possible,” Thompson said. “You don’t want to be anti-tech in the name of anti-tech.”
In his new role, said Mr. Thompson, “there will be a dividing line” between the Atlantic business operations and the journalists headed by Mr. Goldberg. He added that he did not plan to report or write for a while.
The Atlantic began charging readers for online content last fall, about two years after Ms Powell Jobs’ philanthropic organization, Emerson Collective, took a controlling stake in the publication. With this shift in strategy, the venerable magazine joined a wave of legacy media companies that sought to generate more revenue from digital subscribers than advertisers.
In addition to appointing a new business leader Thursday, The Atlantic announced changes to its board of directors. Ms Powell Jobs will become president in January. Mr. Bradley, the current chairman, will become chairman emeritus while retaining his minority stake and stepping down from his day-to-day management responsibilities. The Atlantic will also add its first external director, Michelle Ebanks, former general manager of Essence Communications.
Since the launch of its pay wall, The Atlantic has sold 400,000 new subscriptions. It now has more than 700,000 print and digital subscribers, allowing it to reach its goal of one million by the end of 2022.
The Atlantic has faced the coronavirus pandemic with remarkable coverage, including articles by writer Ed Yong which have won awards from the National Press Club Journalism Institute and the Council for the Advancement of Science Writing. But the publication’s business has suffered from the economic fallout from the pandemic. Atlantic laid off 68 employees in the spring, citing “an exhilarating decline in advertising” and a success for its live events business.
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