News In Brief: Nortel's CEO to depart, WebMediaBrands, ITV, KT

Nortel CEO Mike Zafirovski will soon resign from the company. He revealed his exit strategy in an interview with the Ottawa Citizen,"obviously I'm not going to be a CEO of a residual company dealing with patent assets and claims." An announcement is expected imminently.

Online tech publishing pioneer Alan Meckler is exiting the sector, selling off the division for €12 million. The arm is part of his company WebMediaBrands. Meckler said the sell off will allow him to pursue an acquisition strategy of blogs and websites in the media and education space.

HMV CEO Simon Fox is out of the running for the top gig at ITV. Speculation suggest that it is down to Apple’s European head Pascal Cagni and former BSkyB chief executive Tony Ball while a number of internal ITVcandidates, including its COO are also in with a shot.

KT's Q2 profit surged 184.5% year-on-year, in the company's first result reflecting its merger with mobile unit KTF.
The company reported a Q2 net income of €262 billion (456.1 billion won) - also a 222.3% quarterly increase.