The publishing group set up the digital division under editor-in-chief and managing director Will Lewis at Euston in November 2009.
However, Lewis left suddenly last month after what is understood to be a disagreement over the future direction of the unit with TMG chief executive Murdoch MacLennan.
The unit will be rebranded as the Digital Futures Division, according to an insider. Executive director of consumer revenues, Steve McLaughlin, has been given responsibility for all of TMG’s e-commerce revenues
Newspapers are wrestling with ways to compensate for declining cover prices and in-paper advertising revenues. News International is about to introduce a pay wall for its websites for the Times and Times Newspapers in a bid for a guaranteed income stream.
Guardian Media Group, owner of The Guardian and The Observer, posted a 10% drop in full year revenues yesterday (10 June)