Keith Kelly

So Victor Ganzi quit as CEO of Hearst yesterday, and with some shades of Jane Friedman's departure from HarperCollins, no one really knows why.

In The Times, Richard Pérez-Peña writes that "Mr. Ganzi’s fall after six years came as a surprise to executives at Hearst and some of its major joint venture partners, and to investment bankers who track the company closely." Likewise, Keith Kelly reported that it was a "move that stunned many inside and outside the far-flung media empire." And: "I am stunned. I am honestly shocked," said one executive to Kelly.

It is Hearst, a traditionally non-leaky place, so the fact it's a surprise isn't much of a surprise.  read more »