The Hollywood Reporter's parent company has named former Yahoo executive Ross Levinsohn CEO, replacing Dottie Mattison just seven months after she took the job.

In a further corporate shift, co-owner Jimmy Finkelstein sold his stake in Prometheus, the umbrella company for THR, Billboard, Adweek, the Film Expo Group and the CLIO Awards, to Guggenheim. That umbrella company has been renamed Guggenheim Digital Media.

The trade newspapers have struggled to find a working business model since their purchase by the two partners in 2009 for $70 million. TheWrap reported last year that THR stood to lose $6 million in 2012, though that was denied by the company at the time.

Also read: New Prometheus CEO Named as The Hollywood Reporter Bleeds $6M

Bringing in Levinsohn provides them with digital expertise.

Many were surprised when Mattison was named CEO earlier this year, having joined Guggenheim Partners in October 2009 after overseeing Wal-Mart's global apparel operation. Finkelstein, previously chairman of Prometheus, now exits the company.

With Levinsohn, who recently left Yahoo after he was overlooked as CEO in favor of Marissa Mayer, Guggenheim gains a seasoned digital executive. He will assume his position immediately, a spokeswoman told TheWrap.

Mattison was hired last July ...

The Hollywood Reporter's associate publisher exited Tuesday amid continued executive shuffling at the publication and at its parent company, Prometheus.

After a year and seven months, the magazine announced Tuesday that Craig Hitchcock "will exit to pursue other opportunities" as it named two new vice presidents, promoted from lower ranks a week after TheWrap reported that THR is slated to lose $6 million this year and that Prometheus quietly ushered in new CEO Dottie Mattison.

Former CEO Richard Beckman was fired earlier this month after he was stripped of much of his power a year ago when ad sales in the upscale fashion and luxury category did not materialize for Prometheus' glossy new THR.

Also read: New Prometheus CEO Named as The Hollywood Reporter Bleeds $6M

The publication did not immediately respond to calls requesting comment. Hitchcock also did not immediately respond to an email.

When Mattison took office, insiders at Prometheus, shaken by her management style, said they  began scrambling to make an exit. 

"Dottie is aloof. She is brutal in her communication style. The staff is panicked, they all have their resumes out on the street," one executive who works with Prometheus, speaking on condition of anonymity, ...

"Prometheus" lead Michael Fassbender has signed on to star and co-produce video game giant Ubisoft's silver-screen adaptation of "Assassin's Creed."

The highly sought-after actor will play Desmond Miles, a bartender descended from families of prominent assassins, whose story bounces between medieval and modern settings as he fights the Knights Templar.

Fassbender has risen quickly to fame through roles in "X-Men: First Class," "Haywire" and "Inglourious Basterds."

"Assassin's Creed" currently has no director or U.S. distributor.