Plum TV President Robert Gregory Leaves to Take Over Newsweek

Less than a week after the departure of CEO Jerry Power and a day after mass layoffs were announced, the crumbling Plum TV luxury media empire now faces another loss. President Robert Gregory is leaving to take the same position at Newsweek Daily Beast Co. Of course, considering the state he left Plum in, its a risky move for Newsweek.

"Rob Gregory is taking over as President at a time of remarkable growth for Plum TV," said Plum co-founder Tom Scott at the time of Gregory's promotion to president in 2009. Gregory had previously served as publisher of Maxim, Rolling Stone and Men's Journal.

Of course, given yesterday's layoffs and Power's accusations that Plum is strapped for cash, it seems that the remarkable growth had tapered off under Gregory's tenure. However, Powers directed most of his accusation at the board of directors.

Newsweek itself isn't in the best shape right now either. The weekly news magazine merged with website The Daily Beast earlier this year, and the site's founder Tina Brown took the reigns as editor.

"Attracting stellar talent has been key to the rapid growth of The Daily Beast and to our success with the revitalized Newsweek, and Rob is stellar talent," said Newsweek's CEO Stephen Colvin in a release.

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