Todd Larsen, Former Dow Jones President, Expected to Join Time Inc. to Lead News, Sports

The company is still seeking a new publisher for Time magazine

Todd Larsen, the former president of Dow Jones, will reportedly join Time Inc. to head its news and sports brands.

Larsen, who served as the publisher of the Wall Street Journal, MarketWatch, AllThingsD and other Dow Jones properties from January 2010 to June 2012, will fill the vacancy at the magazine company, AdAge reported Friday.

He fills a position left open since February, 2011, when former news group chief Jack Griffin was ousted. Mark Ford currently heads the sports group and will now report to Larsen.

He left the News Corp.-owned company after nearly 13 years when Rupert Murdoch hired Lex Fenwick to fill the CEO slot left open when Les Hinton resigned amid the phone-hacking scandal at some of the media giant's British tabloids.

Also read: News Corp. Names Bloomberg Executive Lex Fenwick CEO of Dow Jones

Three Time spokespeople did not respond to calls from TheWrap for comment.

Larsen will likely oversee the news and sports groups of Time, which publishes its namesake magazine Time, People, Fortune, Sports Illustrated, Entertainment Weekly, Essence and InStyle. The two groups became separate operations in December 2010, a decision made by Griffin.

Now, Time must find a publisher.

Time CEO Laura Lang has been searching for a new publisher for the magazine group since the former publisher Kim Kelleher left in July to head the blog network Say Media.