Elijah Wood for Oliver Peoples... InStyle Weddings Shuttered... Time Cuts...

Elijah Wood stars in Oliver Peoples film. ALSO: InStyle Weddings ceases publication and more cuts at Time.

BYRNE SAYS BYE: Though John Byrne said just two weeks ago he would, in fact, stay with BusinessWeek after Bloomberg completes its acquisition of the title in December, the executive editor and editor in chief of has reversed field, stating he is leaving to start his own digital media company in California. His move comes a week after Bloomberg appointed Time deputy managing editor Josh Tyrangiel to editor in chief of the magazine. Byrne sent a memo to staffers on Wednesday; the news was reported on on Tuesday afternoon.

In a Nov. 6 Memo Pad item, Byrne, through a spokeswoman, denied he would be moving out west to live with new bride Katherine Rodler in San Francisco, after The New York Times wedding announcement on Oct. 16 said he planned to relocate. But he wrote in his latest memo: “After spending 22 years of my professional life at BusinessWeek, I’ve decided to move on when Bloomberg becomes its new owner next week.” Byrne joined the magazine in 1985, left in 2003 to become the editor in chief of Fast Company, and rejoined in 2005 as executive editor. “I’m flattered and thankful that Bloomberg provided me an opportunity to stay with BusinessWeek, but my passion to chase this entrepreneurial venture feels like the right move at this stage in my career,” he wrote. — S.D.S.
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