Bloomberg Media taps Justin Smith as new president

Business news giant Bloomberg LP is bringing in new leadership for its media unit.

Justin B. Smith, president of Atlantic Media and credited with building a strong digital presence for Atlantic magazine, has been named president of Bloomberg Media. He will have oversight over the cable channel Bloomberg TV and the magazine Business Week as well as Bloomberg’s powerful digital assets and its radio network.

“As we build our business around the world, we deeply value leaders who understand the global long-term trends that will change the way people consume and make use of information,” Bloomberg Chairman Peter T. Grauer said in a statement.

Smith will report directly to Bloomberg LP President and Chief Executive Daniel L. Doctoroff. Andy Lack, who had been president of Bloomberg Media for the past five years, will give up his day-to-day operational responsibilities to become chairman of the unit.

Prior to joining Atlantic Media in 2007, Smith had stints as president and publisher of the Week and was head of corporate strategy for the Economist Group.

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Follow Joe Flint on Twitter @JBFlint.