News Brief

Mobile ad network Millennial Media has hired ad veteran Michael Barrett as its new CEO. Barrett replaces Millennial’s founder Paul Palmieri, who will join New Enterprise Associates as a venture adviser. Barrett’s resume includes stints as chief revenue officer at Yahoo, AOL and Fox Interactive Media; he was also CEO at Admeld prior to that company’s acquisition by Google. In November, Millennial finished its acquisition of Jumptap, a rival ad network.