The digital newsstand company Zinio last week announced some major changes to the company that will no doubt effect magazine publishers. The changes appear to have been instituted by the private equity firm behind the company, Gilvest.
A new CEO has been named, Rusty Lewis, and the co-founder and former CEO Rich Maggiotto has been given the title of Chief Innovation Officer (ouch). A new board has been established made up of folks from the investment side rather than industry leaders.
Zinio remains one of the most popular digital newsstand with more than 5,000 titles available. But these moves don't look like a company looking for a way to expand its business, it looks like a company searching for a way out.