On the masthead of Newsweek magazine went a new name last week. Llewellyn Link ("Pete") Callaway Jr.. 55. advertising director (since 1959) of SPORTS ILLUSTRATED, took over as Newsweek publisher. Callaway's new post represents a fission of existing executive authority. He will shoulder some of the duties of Newsweek's Gibson McCabe. who. until Callaway arrived, served in a double capacity as both president and publisher.
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