The reductions were designed to streamline the media company’s business operations and eliminate duplicated positions. Dana Miller, chief marketing officer for Billboard and its sister publication, The Hollywood Reporter, is out, according to a source familiar with the matter.
The editorial staff of Billboard and The Hollywood Reporter were not impacted by the cuts, the source said.
Valence Media was formed last year through the combination of three media companies: Billboard-Hollywood Reporter Media Group, dick clark productions and MRC.
The company, with divisions or investments in premium television, wide release film, specialty film, live entertainment and digital media, had a reported enterprise value approaching $3 billion last year. It’s led by Asif Satchu and Modi Wiczyk, the co-founders and co-CEOs of MRC.