Bloomberg Media Group CEO Justin Smith announced Paul Caine, former WestwoodOne CEO, will join Bloomberg as Global Chief Revenue Officer for its international multi-platform media organization, which includes web, mobile, television, digital video, radio, print magazines and live events.
Caine had a 23-year career at Time Inc. before CEO of WestwoodOne. He will oversee Bloomberg Media Group’s advertising sales and marketing efforts worldwide, while pursuing innovative revenue models, opportunities in new markets, and business development strategies as part of Bloomberg’s new consumer media strategy, first outlined by Smith in March. He will start June 2, 2014 and will be based out of Bloomberg’s global headquarters in New York City.
“Paul is one of the great talents in global advertising with deep experience in digital and traditional media,” said Smith. “He has developed some of the most innovative advertising strategies in the industry and will be instrumental in our efforts to build a portfolio of digitally-led, multi-platform brands for global business decision-makers around the world. Bloomberg’s global scale presents our advertising partners with opportunities that no other media company in the world can offer, and Paul will be leading this effort across all of our media platforms.”
“There’s no question Bloomberg is an incredible organization,” said Caine. “A respected, fully multi-platform media company with a very loyal consumer following and a long-term perspective, it sits in a completely unique position in the industry right now. It has all of the makings of an extraordinary growth opportunity. I’m thrilled to take on the role and be a part of the Bloomberg Media team.”
As CEO of WestwoodOne, Caine quickly rebranded the company from Dial Global Inc., transformed its terrestrial radio advertising with a suite of digital products and negotiated and closed the acquisition of the company by Cumulus Media Inc. Previously, Caine served as EVP/Chief Revenue Officer and Group President of Time Inc., where he oversaw Time Inc.’s multimedia advertising sales and marketing efforts. He introduced a global advertising strategy for the company, including a series of new digital platforms utilizing Time Inc.’s scale, proprietary data and technology partnerships to provide advertisers with greater access to and engagement with consumers across all Time Inc. media platforms. Caine has also overseen Time Inc. Branded Solutions, Research and Insights, Time Inc. Content Solutions, MNI and Targeted Media.