EXCLUSIVE
Los Angeles Times executive John T. O’Loughlin has become the latest high-ranking official to leave the newspaper, TheWrap has learned.
O’Loughlin served as the Times’ Executive Vice President of Advertising and Chief Revenue Officer, overseeing the area most troublesome to both the Times and other newspapers. Newspaper ad revenues industrywide plummeted to about $24 billion in 2011, the lowest total since 1984. The Times and its parent corporation, Tribune Company, have been hit particularly hard.
Times spokeswoman Nancy Sullivan confirmed the news and issued the following statement: "John O’Loughlin has been a valued member of the Tribune Company team for over 20 years and we wish him the very best in his next endeavors. The Times is in the process of looking at both internal and external candidates to head a strong, diverse revenue team that delivered a great 2011."
O'Loughlin’s departure follows a shake-up on the revenue side in the last quarter of 2011, which saw four new hires from the likes of HBO and Variety to replace a few key departures.
It also trails months of editorial staff changes at the nation's fifth biggest newspaper (by circulation). Top editor Russ Stanton left in December, while other staffers, such as New York bureau chief Geraldine Baum, have left as well.
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O'Loughlin has been with the Tribune Company for more than a decade, moving to the Times in 2005. O'Loughlin did not return a call seeking comment, but the Hearst Corporation released a statement Wednesday announcing he will join the Houston Chronicle as President.